make a journal for the deferral adjusments

For each of the deferral adjustments, prepare the initial journal entry that would have been recorded. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Record renting of spa space at the a cost of $500 per month. On September 1, 2015, Nicole paid eight months rent in advance using cash. This prepayment was recorded in the account Prepaid Rent back in September.

Record the purchase of a building at the beginning of the year for $37,000 cash that has estimated depreciation of $1,000 for 2015, but none has been recorded yet.

Record the entry for payment of Salaries and wages to the support staff at Nicoles Getaway Spa. The Salaries and wages have been paid up to December 26, 2015.The support staff worked both December 27 and 28 and will be paid on January 5, 2016. Salaries and wages amount to $1,200 per day. The spa was closed December 2931.

Record the entry for insurance expense where an insurance policy, purchased on June 1 for $2,400 cash, provides coverage for 12 months. The insurance coverage since June has now been used up.

Record the entry for spa supplies where the unadjusted amount in the Spa Supplies account was $1,000 at December 31, 2015, for supplies purchased on account. A year-end count showed $600 of supplies remain on hand.

Record the entry for the spa services obtained by a customer by using a $70 gift certificate that was purchased earlier in the month. Use of the gift certificate to pay for these services had not yet been recorded.