20pts, suggested time 20min. Please post journal entries for the following transactions for ADX Company: 1. December 1, 2020 - ADX Company took out a loan from the bank for $250,000 The loan has an annual Interest rate of 9.6%. 2. December 2, 2020 - ADX Company received $150,000 in cash for work to be performed in January 2021. 3. December 3, 2020 - ADX Company paid $24,000 upfront for Insurance for December 1, 2020 - May 30, 2020. 4. December 10, 2020 - ADX Company performed services for $8,000 that the customer had already paid for In November 2020. 5. December 12, 2020 - ADX Company purchased $12,000 in supplies and agreed to pay for them within 30 days. Other Information 1. During the year, a vehicle was purchased by ADX Company at a cost of $48,000 and the vehicle's useful life is 4 years. ADX records amortization at the end of each month. 2. Interest on the loan mentioned in transaction #1 needs to be recorded for the month of December. 3. Because of a delayed payroll process, ADX Company has $60,000 in salaries accrued in December that will be paid in January 2021. Note: Debits first, Credits second, DO NOT use commas or dollar signs in your answers (e.g. 2750, NOT $2,750). Date Dr./Cr. Account Debit Credit = = = = = Sum: =