A three-year fire insurance policy was purchased on july 1, 216, for $15, 120. The company debited insurance expense for the entire amount. Depreciation on equipment totaled $14, 250 for the year. Employee salaries of $21,000 for the month of December will be paid in early January 2017, On November 1, 2016 the company borrowed $280,000 from a bank. The note requires principal and interest at 12% to be paid on April 30, 2017. On December 1, 2016 the company received $4, 800 in cash from another company that is resting office space in Falwell's building. The payment, representing rent for December and January, vies credited to deferred rent revenue. Prepare the necessary adjusting entries for each of the above situation. Assume that no financial statements were prepared during the year and no adjusting entries were recorded