Below are transactions for Wolverine Company during 2021 1 On December 1, 2021 Wolverine receives $2.400 cash from a company that is renting office space from Wolverine. The payment, representing rent for December and January, is credited to Deferred Revenue 2 Wolverine purchases a one-year property insurance policy on July 1, 2021 for $11.280 The payment is debited to Prepaid insurance for the entire amount 3. Employee salaries of $1400 for the month of December will be paid in early January 2022 4 on November 1, 2021. the company borrows $7000 from a bank The loan requires principal and interest at 12% to be paid on S Office supplies at the beginning of 2021 total $840. On August 15, Wolverine purchases an additional $1,800 of office supplies debiting the Supplies account By the end of the year $340 of office supplies remains Required: Record the necessary adjusting entries at December 31, 2021, for Wolverine Company You do not need to record transactions made during the year. Assume that no financial statements were prepared during the year and no adjusting entries were recorded. Of no entry in required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transactions View journal entry worksheet NO General Journal Credit Date December 31 Debit 1.950 1 Deferred Rovno Service Revenue 1.950