In each of the following transactions (a) through (c) for Catena's Marketing Company, indicate the amounts and the direction of effects of the adjusting entry on the elements of the balance sheet and income statement. Indicate + for increase, for decrease. (Reductions in account balances should be indicated with a minus sign.)

1. Collected $1,800 rent for the period December 1 of the current year to April 1 of next year, which was credited to Unearned Rent Revenue on December 1.
2. Purchased a machine for $48,000 cash on January 1. The company estimates annual depreciation at $3,900.
3. Paid $2,500 for a two-year insurance premium on July 1 of the current year; debited Prepaid Insurance for that amount.

	Balance Sheet			Income Statement
Transaction	Assets	Liabilities	Stockholders Equity	Revenues	Expenses	Net Income
a.
b.
c.