On December 1, 2024, Wolverine received $4,000 cash from a company renting office space from Wolverine. The payment, representing rent for December and January, was recorded to Deferred Revenue on December 1. Revenue for other rentals totaled $125,000. Wolverine purchases a one-year property insurance policy on July 1, 2024, for $13,200. The payment was recorded in Prepaid Insurance for the entire amount on July 1. Wolverine had $5,400 in insurance costs for the first six months of the year. Employee salaries of $3,000 for the month of December will be paid in early January 2025. Salaries paid for the first 11 months of the year total $42,000. On November 1, 2024, the company borrowed $15,000 from a bank. The loan