nces: Exercise 3-8 (Algo) Record year-end adjusting entries (LO3-3) Consider the following transactions for Huskies Insurance Company: 1. Income taxes for the year total $47,000 but won't be paid until next April 15. 2. On June 30, the company lent its chief financial officer $55,000; principal and interest at 7% are due in one year. 3. On October 1, the company received $13,600 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.)