Or October 1. 2020. a comparey burchased equipment for 5150.000. They paid $50.000 in cash and signed a 10-year Note payable for $100.000 with a 10 interest rate. The interest payments are due on Mach 31 and September 30 each year, What is the adjusting entry needed. if any, on December 31,2020. No tren is Nincwary Detat wernat Epense 32500 ind Crodt Cun $2.300 Pebithteres Esenye 57.500 Debit wherent proble 57.500, and Crodit Canh 55.000 Question 3 On June 1.2020, a company oald 55,600 to The insurance Group for a 2-year Uenbrelia policy. The polly takes effect on duly 1,2020 . Whut fournal entry is neeced, if any, to record the purchase of the insurance policy on fune 1,2020 Debe Prepait hae non 55.000 and Creat cath 55000 Na Latry is Pieeded Detit waunce Epense is 600 and Cradt Crin is 100 , On. Deceenter 1,2026, a coinpany received an order for $100,000 of product from a prominent customer. The product is scheduled to be delivered on February 1, 2021. What journal entry is needed, If any to record this tramactoci on December 1, 20gh? Natintryin Hiterded Drtir Crib 5100,000 and Cirdy Rrvenve 3100,000 Cetar Cash 1100000 ma Credt Unexrinil Revenue 1100000 Dutit Acoount Arevates 5100000 , and Cieds Unesined Aerenue 3100000 Question 5 Which of the followine Stafententv are Falue