C Question 4 12 For the following transaction below for Danielle Law Company, prepare (1) the journal entry to record the initial transaction and then prepare (2) the adjusting entry required on November 30 which is the end of the fiscal year. Journal entries must be prepared using the Chart of Accounts provided below. No. Accounting Transaction Transaction 1. On November 1, paid insurance for six months in advance, $30,000. Assets Cash Accounts Receivable Inventory Supplies Chart of Accounts Liabilities Accounts Payable Unearned Revenue Taxes Payable Notes Payable Prepaid Rent Interest Payable Prepaid Insurance Equipment Building Land Accumulated Depreciation Stockholders' Equity Common Stock Retained Earnings Service Revenue Sales Revenue Insurance Expense Utilities Expense Wages and Salaries Expense Rent Expense Supplies Expense Depreciation Expense Interest Expense . List debit transactions first and then list credit transactions. . When typing your responses, do NOT include a dollar sign. For example, if your answer is $10,000, you should be typing 10,000 or 10,000.00 without any dollar sign. Use accounts provided in the Chart of Accounts above. Do NOT create your own account. Initial journal entry refers to the journal entry you would have made on November 1. Adjusting journal entry refers to the journal entry you would have made on November 30. No. Date General Journals Accounts Titles Debit ($) Credit ($) 1. 11/1 Initial Journal Entry: 11/30 Adjusting Journal Entry