Check my work 1 For each of the following transactions(through (a for Catena's Marketing Company, prepare the adjusting entry. The process Includes (1) determining if revenue was earned or an expense was incurred, (2) determining whether cash was received or paid in the past or will be received or paid in the future, and (3) computing the amount of the adjustment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) -Book a. Collected $1,600 rent for the period December 1 of the current year to April 1 of next year, which was credited to Unearned Rent Revenue on December 1, b. Purchased a machine for $38,000 cash on January 1. The company estimates annual depreciation at $5,000, c. Pald $3,300 for a two-year Insurance premium on July 1 of the current year, debited Prepaid Insurance for that amount. Print Ferences View transaction ist View journal entry worksheet Debit No Credit Transaction General Journal 1,600 1 a Unearned rent revenue Rent revenue 1,600 38.000 2 D Cash 38.000 Check my work rever I Leel. b. Purchased a machine for $38,000 cash on January 1. The company estimates annual depreciation at $5,000. c. Paid $3,300 for a two-year insurance premium on July 1 of the current year, debited Prepaid Insurance for that amount @ View transaction list View journal entry worksheet No Transaction General Journal Credit Debit 1,600 1 Uneamed rent revenue Rent revenue nt 1,600 ences 2 b Cash 38,000 38,000 3 C. 3,300 Prepaid insurance Cash 3,300