Identification and Preparation of Adjusting Entries Kuepper's Day Care is a large daycare center in South Orange, New Jersey. The daycare center serves several nearby businesses as well as a number of individual families. The businesses pay $6,180 per child per year for daycare services for their employees' children. The businesses pay in advance on a quarterly basis. For individual families, daycare services are provided monthly and billed at the beginning of the next month. The following transactions describe Kuepper's activities during December: Required: 1. Identify whether each transaction is an adjusting entry or a regular journal entry. If the entry is an adjusting entry, identify it as an accrued revenue, accrued expense, deferred revenue, or deferred expense. If the entry is a regular journal entry, select "not applicable from the second set of dropdowns. a. On December 1, Kuepper borrowed $63,000 by issuing a 5-year, $63,000,9% note payable b. Daycare service in the amount of $12,350 was provided to individual families during December. These families will not be billed until next January c. At December 1, the balance in uneared service revenue was $43,775. At December 31, Kuepper determined that $3,890 of this revenue was still unearned. d. On December 31, the daycare center collected $129,025 from businesses for services to be provided in 2020. e. On December 31, the center recorded depreciation of $2,675 on a bus that it uses for field trips. 1. The daycare center had prepaid insurance at December 1 of $4,200. An examination of the insurance policies indicates that prepaid insurance at December 31 is $2,200