Consider the following transactions for Huskies Insurance Company:

Equipment costing $$33,600$ is purchased at the beginning of the year for cash. Depreciation on the equipment is $$5,600$ per year.

On June $30,$ the company lends its chief financial officer $$36,000$; principal and interest at $5\%$ are due in one year.

On October $1,$ the company receives $$10,400$ from a customer for a one$-$year property insurance policy. Deferred Revenue is credited.

eBook Required:

For each item, record the necessary adjusting entry for Huskies Insurance at its year$-$end of December $31.$ No adjusting entries were

Hint

Print 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.$)$

References

Journal entry worksheet

$1$

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$3$

Equipment costing $$33,600$ is purchased at the beginning of the year for cash.

Depreciation on the equipment is $$5,600$ per year. Record the adjusting entry for depreciation at its year$-$end of December $31.$

Note: Enter debits before credits.

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