For each ofthe following transactions for the Sky Blue Corporation, give the accounting equation effects of the adjustments required at the end of the month on October 31

1. Collected $4,500 rent for the period October 1 to December 31, which was credited to Deferred Revenue on October 1.
2. Paid $2,880 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount.
3. Used a machine purchased on October 1 for $56,400. The company estimatesannualdepreciation of $5,640.