Income taxes for the year total $54,000 but wont be paid until next April 15.

On June 30, the company lent its chief financial officer $62,000; principal and interest at 6% are due in one year.

On October 1, the company received $11,200 from a customer for a one-year property insurance policy. Deferred Revenue was credited on October 1.

Required:

For each item, record the necessary adjusting entry for Huskies Insurance at its year-end of December 31. No adjusting entries were made during the year. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.)