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1. Equipment costing $41,400 is purchased at the beginning of the year for cash. Depreciation on the equipment is $6,900 per year. 2 On June
1. Equipment costing $41,400 is purchased at the beginning of the year for cash. Depreciation on the equipment is $6,900 per year. 2 On June 30, the company lends its chlef financial officer $49,000, principal and Interest at 6% are due in one year. 3. On October 1, the company receives $15,600 from a customer for a one-year property Insurance policy. Deferred Revenue is credited. Required: For each item, record the necessary adjusting entry for Huskles Insurance at its year-end of December 31. No adjusting entries were made during the year. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" In the first account field. Do not round Intermediate calculations.) View transaction list View journal entry worksheet No General Journal Credit Date December 31 Debit 1,540 2 Interest Receivable Interest Revenue 1.540 3 December 31 No Transaction Recorded
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