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Hi I need help answering the following questions thank you A company has a fiscal year-end of December 31: (1) on October 1, $22,000 was

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A company has a fiscal year-end of December 31: (1) on October 1, $22,000 was paid for a one-year fire insurance policy: (2) on June 30 the company advanced its chief financial officer $20,000: principal and interest at 6% on the note are due in one year, and (3) equipment costing $70,000 was purchased at the beginning of the year for cash. Depreciation on the equipment is $14,000 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

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