explain how the following entries are calculated:

 

Fish Company had the following transactions during the year 2015. IntExp... a. On April 1, Fish rented excess office space in one of its buildings and received $90,000. The rental period extends for ten months starting April 1. Ni 86 b. On June 1, Fish paid $20,000 for a 2-year insurance policy. Coverage begins on June 1. Required: 1. Journalize the above transactions. 2. Prepare any adjusting entries necessary for the year ended December 31, 2015. 86