Current Attempt in Progeress Waterwar Corporation began operations on January 2 its year end be December 31 and it adjusts its accounts annually, Selected transactions for the current year follow: 1 On February2. purchused a \$19.200, one-vear inuarance policy for cash. The policy came inte effect on that date. 2. OnMarch 15. Waterway sold $78.120 in annual subscriptions for cash, with service to begin on April 2. 3. Purchased a delivery drone for $124,000 on July 1 . Waterway paid $32,000 in cash and signed a $92,000 bank loan for the baiance. The drone is estimated to have a uset of four years and the compamy usesstraight-line depreciation. The bark loan has an interest rate of 5%. 4. On November 1, the company purchused six months of digital advertsing at acost of $99,600. Waterway paid 549,800 conh and the balanse on account. The advertising i to commence on December 1 and nun at a constant level for six consecutive months. 5. On December 1, Waterway received $11,200 trom the sale of git cards wich could be redectived for services at a future date. On December 31 , it was determined that 60 of the cards had been redeemed (a) - Your animer histialy correct. indent manually, List all debit entries before credit entries: if ne entry is required, select "No F ntry" for the account tities and enter o for the amounts. Record journat entries in the order presented in the