On November 1, George prepaid for one year of insurance for $1,200. Record the following journal entries. Accounts used Cash, Prepaid Insurance, Insurance Expense. The prepayment on November 1. journal entry Accounts Debit Credit The adjustment for used insurance at December 31 (2 months). journal entry The adjustment for used insurance at December 31 (2 months). journal entry Accounts Debit Credit On October 1, Sponge Bob, Inc. received $240 up front from a customer for a yearly magazine subscription. Magazines are provided one per month. Record the following journal entries. Accounts used Cash, Unearned Revenue, Subscription Revenue The prepayment on October 1 On October 1, Sponge Bob, Inc. received $240 up front from a customer for a yearly magazine subscription. Magazines are provided one per month. Record the following journal entries. Accounts used Cash, Unearned Revenue, Subscription Revenue The prepayment on October 1. journal entry Accounts Debit Credi The adjustment for earned subscription revenue at December 31 (3 months). The adjustment for earned subscription revenue at December 31 (3 months). journal entry Accounts Debit Credit Employees at Dexter & Son, Ltd are paid every two weeks on Fridays. Bi-weekly payroll totals $4,500. The last pay date was Friday, December 23, 2011. Note that employees worked 5 days in 2011 and 5 days in 2012 (they don't work weekends). Record the following journal entries. Accounts used: Cash, Salaries Expense, Salaries Payable. Employees at Dexter & Son Ltd are paid every two weeks on Fridays. Bi-weekly payroll totals $4,500. The last pay date was Friday, December 23, 2011. Note that employees worked 5 days in 2011 and 5 days in 2012 (they don't work weekends). Record the following journal entries. Accounts used: Cash, Salaries Expense, Salaries Payable. The salaries accrual at December 31, 2011 (for the 5 days worked). journal entry Accounts Debit Credit The payment of salaries on January 6th, 2012 The payment of salaries on January 6th, 2012. journal entry Accounts Debit Credit Spielberg Co. borrowed $12,000 from the bank on November 1, 2011. The Spielberg Co. borrowed $12,000 from the bank on November 1, 2011. The note carries an annual interest rate of 10%. The note matures in 90 days. Principal and interest are payable at maturity. Record the following journal entries I have filled in the accounts for you. You only need to fill in the amounts. Remember, interest is calculated as principal x rate x time. By December 31, 2011, 2 months of interest need to be accrued. Record the loan being taken out from the bank. journal entry Accounts Debit Credit Cash Notes Payable Record the interest accrual at December 31, 2011. journal entry Accounts Debit Credit Interest Expense Interest Payable Record the repayment of the loan including all interest at January 30th, 2012. journal entry Record the repayment of the loan including all interest at January 30th, 2012. journal entry Accounts Debit Credit Interest Payable Interest Expense Note Payable Cash