1) On October 1, Tricky Yoyos Corp. pays $59,000 for a two-year insurance policy that starts on the same day. Assume even usage of the policy. Record both the October 1 transaction journal entry and the December 31 adjusting entry

2)

What is true about the FASB Codification?

	It provides authoritative literature at one level
	All of the other answers are not true about the FASB Codification
	It provides authoritative literature to many countries around the world
	It provides authoritative literature based on a hierarchy of guidance

3) On February 1, Momentum Machining loans $138,000 to a supplier in exchange for a 9-month, 6% notes receivable. How much interest revenue should be recorded on June 30 when the accounting period ends?