Ike's Bikes specializes in custom painting and design of bicycles, Information necessary to prepare the December 31, 2021 , adjusting entries appears below. 1. Recorded the cost of insurance used related to a three-year fire insurance policy purchased on July 1, 2021, for $18,000. 2. Recorded the cost of employee salaries of $25,000 owed for the month of December, salaries will be paid early in the next year. 3. Recorded revenue related to $6,000 received on November 1, 2021 from a customer requesting a custom design for six identical bikes ($1,000 each). By Dec. 31, four of the bikes have been completed. 4. Recorded cost of supplies used. Supplies at the beginning of the year totaled $2,000. During 2021, additional supplies of $18,000 were purchased. Supplies remaining at the end of the year total $4,000. 5. Recorded cost of advertising used related to $12,000 paid on December 1, 2021, to local radio station for four months of advertising. The advertising will be broadcast evenly over the four-month period. 6. Recorded interest related to $36,000 borrowed by the company on March 1, 2021. The interest rate is 10%. The principal is due in five years, the first annual interest payment is due on March 1. Required: Record the necessary adjusting entries on December 31, 2021. (Do not round intermediate calculations. If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)