De Erica Chan MD owns EC Health Clinic She prepares annual financial statements and has a December 31, 2020 year-end a. On October L 2020, De Chan prepaid $5,200 for four months of rent b. On November 1, 2020 De Chan prepaid $216 to renew the clinic's magazine subscriptions The subscription is for one year c. On December 1, 2020 DiChan pays $2.400 for supplies. At the end of the year $1600 of supplies had not been used Required: For the above transactions record the initial journal entry and the adjusting entry required on December 31, 2020