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could someone provide the answers for the boxes with the X on them, thanks! The following transactions occurred for the Flerro Compurty. 1. A three-year

could someone provide the answers for the boxes with the "X" on them, thanks! image text in transcribed
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The following transactions occurred for the Flerro Compurty. 1. A three-year fire insurance policy was purchased on July 1. 2024, for $9720. The company debited prepaid insurance for the entire amount at the time of payment. 2. Depreciation on equipment totaled $10,500 for the year. 3. Employee salaries of $13,000 for the month of December will be paid in early January 2025. 4. On November 1, 2024, the company borrowed $120.000 from a bank. The note requires principal and interest at 12% to be paid on Aprit 30,2025 5. On December 1.2024, the company recelved $3,900 in cash from another company that is renting office space in Fierro's buliding. The payment, representing rent for December, January, and February was credited to deferred rent revenue at the time cash was received Required: Prepare the necessry ad usting entries at December 31,2024 for each of the above situations. Assume that no financial statements were prepared during the year and no adjusting entries were recorded. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field, Answer is complete but not entirely correct

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