1. A three-year fire Insurance policy was purchased on July 1, 2021, for $18,300. The company debited Prepaid Insurance for the entire amount. 2. Employee salaries of $25,200 for the month of December will be paid in early January 3. On November 1, 2021, the company received $6,300 in cash from a customer requesting a custom design for six identical bikes ($1,050 each). Deferred Revenue was credited for the entire amount. By the end of the year, four of the bikes have been completed. 4. Supplies at the beginning of the year totaled $2.200. During 2021, additional supplies of $18.200 were purchased, and the entire amount was debited to Supplies. Supplies remaining at the end of the year total $4,200. 5. Buzzard paid a local radio station $12,200 for four months of advertising on December 1, 2021. The advertising will appear evenly over the four-month period. The company debited Prepaid Advertising for the entire amount 6. Buzzard borrowed $36,300 on March 1, 2021. The principal is due to be collected in five years. Interest is receivable each March 1 at an annual rate of 10% Required: Record the necessary adjusting entries on December 31, 2021. (Do not round intermediate calculations. If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet A three-year fire insurance policy was purchased on July 1, 2021, for $18,300 The company debited Prepaid Insurance for the entire amount. Record the adjusting entry for insurance at its year-end of December 31 Nota: Entert before the Debit Credit General Journal Date December 31 View general journal Clear entry Record entry 2 of 4 !! Next >