1 On July 1, 2021, the company purchased $19,000 of Apple Corporation bonds at face value. The bonds pay interest twice a year on January 1 and July 1. The annual interest rate is 10%. 2 The depreciable equipment has a cost of $6,000, a five- year life, and no salvage value. The equipment was purchased in 2019. The straight-line depreciation method is used. 3 On November 1, 2021, the bar area was leased to a bartender for one year. The company received $8,400 representing the first six months' rent and credited deferred rent revenue.