B Brief Exercise 2-5 (Static) Adjusting entries (LO2-6) A company has a fiscal year-end of December 31: (1) on October 1, $12,000 was paid for a one-year fire insurance policy: (2) on June 30 the company advanced its chief financial officer $10,000; principal and interest at 6% on the note are due in one year, and (3) equipment costing $60,000 was purchased at the beginning of the year for cash. Depreciation on the equipment is $12,000 per year. Prepare the necessary adjusting entries at December 31 for each of the above items. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) OOK View transaction list Journal entry worksheet 1 2 3 > ences On October 1, $12,000 was paid for a one-year fire Insurance policy Note: Enter debits before credits Transaction 1 General Journal Debit Credit Record entry Clear entry View general Journal View transaction list Journal entry worksheet