II Deferred revenue On January 1, 2018, Charlie Rangel paid S1,500 for a two-year membership to the Beam Gym. Prepare the joumal entry to record the receipt of cash on January 1,2018. (By Beam Gym) Date Accounts Debit Credit By December 31, 2018, one half of Rangel's membership expired. Prepare the required adjusting journal entry on that date. Date Accounts Debit Credit IV. Long term notes Joe Co. borrowed $800,000 on December 3 1 , 2018, by issuing an $800,000, 8%, 10-year note payable to finance the construction ofa building. The terms call for annual installment payments of $119,224 on December 31. ordthe motgage loan Required: Prepare the journal entries to record the mortgage loan and the first two payments Date Debit Credit eAccounts