e-Built Problems i Saved A company has a fiscal year-end of December 31: (1) on October 1, $20,000 was paid for a one-year fire insurance policy: (2) on June 30 the company advanced its chief financial officer $18,000; principal and interest at 8 % on the note are due in one year, and (3) equipment costing $68,000 was purchased at the beginning of the year for cash. Depreciation on the equipment is $13,600 per year. Prepare the necessary adjusting entries at December 31 for each of the above items. (If no entry Is required for a transaction/event, select "No Journal entry required" in the first account field.) View transaction list Journal entry worksheet