Exercise $2-8($Static$)$ Adjusting entries $[$LO$2-6]$

The following tramsactions ockurred for the Fiere Company.

A three$-$yeat fire irsurance policy was purchated on July $1,2024,$ far $$12\mathrm{.}000.$ The company debifed propaid insurance for the antire amount at the time of payment

$2$ Depreciation on cquiament bota od $$15\mathrm{.}000$ for the your.

Emplatyee salaries of $$18,000$ fer the menth of Decomber wil be paid in early January $2025.$

On wowember $1\mathrm{.}2024,$ the company bomrowed $$200\mathrm{.}000$ fram a bunk. The note requies princlpo and interest at $12\%$ to be paid on Apri $30,2025.$

On December $12024,$ the campany received $$3,000$ in cash frem another cempany that is reming otfice space in Flemos buicing. The payment, sepresenting rent for December, January, and Feoruary was tredifed to dofored rent revenue st the time sash was resetwod.

Required:

Prepore the necessory adjusting entries at December $31\mathrm{.}2024$ for ench of the abowe muations. Assume that no finaricial statemants were prepored durmg the year and no acjusting entries were recarted,

Note; If no emtry is required for o transtationjevent, select $"$No journal entry required' in the flest account meld.

Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

A three$-$pear fire nsurwnce policp mas purchased on Auk $1,202$a$,$ for $$12,060.$

The company Sebited presa d insurance for the enkre amsurk at the bime of parmerc. Hrapare the necebdary adj$-$ating entry an Decemser $31,2024.$

whe trie dibra telore ativs.

$\backslash$table$[[$Thamaction$,$Genera Journa,Oetit,Coedt$],[1,,,],[,,,],[,,,],[,,,],[,,,]]$