Consider the following transactions for Huskies Insurance Company: 1. Equipment costing $42,000 is purchased at the beginning of the year for cash. Depreciation on the equipment is $7,000 per year. 2. On June 30, the company lends its chief financial officer $50,000; principal and interest at 7% are due in one year 3. On October 1, the company receives $16,000 from a customer for a one-year property insurance policy. Deferred Revenue is credited Required: For each item, record the necessary adjusting entry for Huskies Insurance at its year-end of December 31. No adjusting entries were made during the year. (lf no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet > 1 2 3 Equipment costing $42,000 is purchased at the beginning of the year for cash. Depreciation on the equipment is $7,600 per year. Record the adjusting entry for depreciation at its vear-end of December 31. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Record entry View general journal Clear entry