On May $1$ of Year $1,$ the company paid $$2,400$ cash for rent. This $$2,400$ rental payment covers the period from May $1$ of Year $1$ to April $30$ of Year $2.$ Journal entry necessary to record this cash payment for rent?

$2,400$ Debit Rental Expsinse I,$600$crodit hental prepayment

On May $1$ of Year $1,$ the company paid $$2,400$ cash for rent. This $$2,400$ rental payment covers the period from May $1$ of Year $1$ to April $30$ of Year $2.$ On May $1,$ the payment of the cash was recorded as an asset, Prepaid Rent. ADJUSTING journal entry necessary on December $31$ with respect to this prepaid rent?

$1600$ Debit Rontal expense $1,600$ Crodit Rontalpayment

The company earns interest on various investment accounts. As of December $31,$ the company has earned interest revenue of $$5,000$ for which it has not yet received the cash; the company will not receive the cash until February of next year. ADJUSTING ENTRY necessary on December $31?$ Note: So far, nothing has been recorded in the company's books with respect to this interest.

On June $1,$ the company paid $$1,200$ in advance for $12$ months of rent, with the rental period beginning on June $1.$ This $$1,200$ was recorded as Rent Expense. $[$Yes$,$ they did it wrong, but we have to work with what they did.$]$ As of the end of the year, no entry has yet been made to adjust the amount initially $($incorrectly$)$ recorded. ADJUSTING ENTRY necessary on December $31?$

On February $1$ of Year $1,$ the company received $$100,000$ cash from a one$-$year bank loan. The interest rate on the loan is $8\%.$ No payments are due on the loan until January $31$ of Year $2.$ ADJUSTING journal entry necessary on December $31$ with respect to this loan?

On February $1$ of Year $1,$ the company received $$100,000$ cash from a one$-$year bank loan. The interest rate on the loan is $8\%.$ No payments are due on the loan until January $31$ of Year $2.$ Journal entry necessary on January $31$ of Year $2$ to record the full payment of principal and interest on this loan? Note: An appropriate adjusting entry was made on December $31$ of Year $1.$

On December $31$ the company paid $$150,000$ cash to purchase a building. However, this cash payment was mistakenly recorded as a payment for employee wages for the year. The error was discovered BEFORE the books were closed for the year. Journal entry necessary to correct this recording error BEFORE the books are closed for the year?

On September $1,20$X$1,$ MaScare Company paid $$4,800$ for an insurance policy on some equipment that will be in effect for the $12$ months from September $1,20$X$1$ through August $31,20$X$2.$ MaScare recorded this payment on September $1$ by debiting Insurance Expense. The necessary adjusting entry on December $31,201.$