Benson Bicycle specializes in custom painting and design of bicycles. December 31 is the company's fiscal year-end. Information necessary to prepare the year-end adjusting entries appears below. 1. A three-year fire insurance policy was purchased on July 1, 2024, for $20,100. The company debited Prepaid Insurance for the entire amount on July 1. 2. Employee salaries of $26,400 for the month of December will be paid in early January. 3. On November 1, 2024, the company received $8,100 in cash from a customer requesting a custom design for six identical bikes (\$1,350 each). Deferred Revenue was credited for the entire amount on November 1. By the end of the year, four of the bikes have been completed. 4. Supplies at the beginning of the year totaled $3,400. During 2024, additional supplies of $19,400 were purchased, and the entire amount was debited to Supplies at the time of purchase. Supplies remaining at the end of the year total $5,400. 5. Benson paid a local radio station $13,400 for four months of advertising on December 1,2024 . The advertising will appear evenly over the four-month period. The company debited Prepaid Advertising for the entire amount on December 1. 6. Benson borrowed $38,100 on March 1, 2024. The principal is due to be paid in five years. Interest is payable each March 1 at an annual rate of 10% Required: Record the necessary adjusting entries on December 31, 2024. (Do not round intermediate calculations. If no entry is required for a porticular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet A three-year fire insurance policy was purchased on July 1,2024 , for $20,100, The company debited Prepaid insurance for the entire amount on July 1 . Prepare the adjusting entry at December 31 . Fotes finter debits before credts