adjusting entries for vitos pizza parlor. a. on July 1,2024 purchased 16000 of IBM bonds the bonds pay interest twice a year on jan.1&July 1 the interest rate is 12%

b. Vito's depreciable equipment has a cost of 9000 a 5 year life and no savage value. The equipment was purchased in 2022 two, the straight line depreciable method is used.

c.on November 1 2024 the bar area was leased to rob for one year.vitos received 6600 representing the first six months rent and credited deferred rent revenue at the time cash was received.

d.on April 2024 the company paid 2160 for two year fire insurance policy and debited prepaid insurance at the time of payment.

e.on Oct 2024 company borrowed money 18000 from bank and signed a note principal interest 12% on Sept 30 2025

f. at year end there is a 1550 debit balance in supplies (assets)account only $680$ of supplies remain on hand.

1]prepare the necessary adjusting journal entries on dec.31,2024

2]determine the amount by which net income would be missed if vitos failed to record these adjusting entries (ignore income tax expenses)