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Consider the following transactions for Huskies Insurance Company: 1 Equipment costing $39,000 is purchased at the beginning of the year for cash. Depreciation on the
Consider the following transactions for Huskies Insurance Company: 1 Equipment costing $39,000 is purchased at the beginning of the year for cash. Depreciation on the equipment is $6,500 per year 2. On June 30, the company lends its chief financial officer $45,000; principal and interest at 5% are due in one year 3. On October 1, the company receives $14,000 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. (If 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 On June 30, the company lends its chief financial officer $45,000; principal and interest at 5% are due in one year. Record the adjusting entry for interest at its year-end of December 31 Note: Enter debits before credits. Date Debit General Journal Credit December 31 Record entry Clear entry View general journal
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