GGB LLP (GGB) are in the process of completing their year-end accounting work for the year ended December 31, 2021. The company bookkeeper has recorded the day-to-day business transactions but has come to you for advice regarding any adjustments that may need to be made. She described the following set of events to you: A) GGB received a $200,000 loan on July 1, 2021, to finance a new project. The bookkeeper has already recorded the loan principal as a liability. However, GGB is obligated to pay annual interest to the bank on June 30 of each year in the amount of 4% per annum. Since no interest payments have been made yet, nothing has been recorded in the accounting records. B) On December 15, 2021, GGB paid in advance for January building rent in the amount of $5,000 cash. The bookkeeper recorded this amount to the Rent Expense account. C) On December 31, 2021, GGB had its inventory appraised by a third party and it was determined that the net realizable value of inventory was $50,000 as of year-end. Currently, the amount of inventory on the balance sheet is listed as $80,000. D) On January 1, 2021, GGB purchased a business insurance policy that covered the three-year period January 1, 2021 - December 31, 2023. GGB paid for the policy in full in January 2021 for $30,000 cash and the bookkeeper recorded the full amount to the insurance expense account E) The bookkeeper notified you that on December 15, 2021, GGB placed an order with a supplier for supplies worth $5,000. Nothing has been recorded in the accounting records and the supplies are scheduled to arrive in January recus F) The bookkeeper explained to you that GGB will be very busy in January completing a large project. The project is valued at $40,000 and the customer paid GGB in full on December 30, 2021, even though work on the project has not yet begun. The full amount is currently sitting in the Project Revenue account G) GGB's unadjusted net income before taxes was $500,000 for the annual period before considering the adjustments noted above. GGB has not paid any taxes yet and still owes the government income taxes for all activity of this annual period. Assume a tax rate of 20% Required: Prepare the adjusting journal entries for the facts noted in A-G. If applicable, please indicate if no journal entry is required. It is to be assumed that all adjusting journal entries are made on December 31, 2021 (i.e.. you do not need to put a date in each entry) A