Chrome File Edit View History Bookmarks Profiles Tab Window Help Tue Feb 14 11:06 AM G Google Docs: 0 x Report Google x N McGraw-Hill Cox Question 10 x C Hometowne Bic x C Required: For : X C For each transax C [The following in x + ezto.mheducation.com/ext/map/index.html?_con-con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddleware%2... M Gmail N MYRED Huskers Email Husker HUB Lobby | Top Hat CANVAS MindTap - Cengag... My CliftonStrengt... Ch. 1 Introduction... Selling: Building P... Q3 i Saved https://openvellu... Help Save & Exit Submit 10 Mc Graw Hill 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 $21,900. The company debited Prepaid Insurance for the entire amount on July 1. 2. Employee salaries of $27,600 for the month of December will be paid in early January. 3. On November 1, 2024, the company received $9,900 in cash from a customer requesting a custom design for six Identical bikes ($1,650 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 $4,600. During 2024, additional supplies of $20,600 were purchased, and the entire amount was debited to Supplies at the time of purchase. Supplies remaining at the end of the year total $6,600. 5. Benson paid a local radio station $14,600 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 $39,900 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 particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < Prev 10 of 11 Next > 14 A tv S Check my work