Please answer soon, the assignment is due in 2 hours. I will give good rating, thank you in advance

The information necessary for preparing the December 31, 2024, year-end adjusting entries for Vitos Pizza Patior appears below. a. On July 1, 2024, purchased $16,500 of IBM Corporation bonds at foce value, The bonds pay interest twice a yeat on January 1 and July 1 The annual intereat rate is 12%. b. Vito's depreciable equipment has a cost of $10,200, a six-year life, and no salvage value. The equipment was purchased in 2022. The straight-line depreciation method is used. c. On November 1, 2024, the bar area wos leased to Jack Donaldson for one year Vito's received $6,900 representing the first six months' rent and credited deferred rent revenue at the time cash was rechived d. On April 1. 2024, the company paid $2,040 for a two-year fre insurance policy and debited prepaid insurance at the time of the payment. e. On October 1. 2024, the company borrowed $17.000 from a local bank and signed a note. Principal and interest at 12 sis will be paid on September 30,2025 . f. At year-end, there is a $1,500 debit balance in the supplies (asset) account. Only $670 of supplies remain on hand Required: 1. Prepare the necessary adjusting journal entries on December 31,2024. 2. Determine the amount by which net income would be misstated if Vito's failed to record these adjusting entries. (lgnore income tax expense) Comblete this auestion bv enterina vour answers in the tabs below. Prepare the necessary adjusting journal entries on December 31, 2024. Note: If no entry is required for a transaction/event, select "No joumal entry required" in the first account field. Do not round intermediate calculations. Journal entry worksheet C On July 1,2024, purchased $16,500 of IBM Corporation bonds at face value. The bonds pay interest twice a year on January 1 and July 1 . The annual interest rate is 12%. Prepare the necessary adjusting entry on December 31 , 2024. Note: Enter debits before credits. y 1,2024, purchased $16,500 of IBM Corporation bonds at face v onds pay interest twice a year on January 1 and July 1 . The annual st rate is 12%. Prepare the necessary adjusting entry on Decembe er debits before credits. 1,2024 , purchased $16,500 of IBM Corporation bond ds pay interest twice a year on January 1 and July 1. rate is 12%. Prepare the necessary adjusting entry or debits before credits. 2024 , purchased $16,500 of IBM Corporation bonds at fac pay interest twice a year on January 1 and July 1 . The an e is 12%. Prepare the necessary adjusting entry on Decer before credits. purchased $16,500 of IBM Corporation bonds at nterest twice a year on January 1 and July 1 . The 12%. Prepare the necessary adjusting entry on De efore credits. Vito's depreciable equipment has a cost of $10,200, a six-year life, and no salvage value. The equipment was purchased in 2022 . The straight-line depreciation method is used. Prepare the necessary adjusting entry on December 31, 2024. Note: Enter debits before credits. On November 1,2024 , the bar area was leased to Jack Donaldson for one year. Vito's received $6,900 representing the first six months' rent and credited deferred rent revenue. Prepare the necessary adjusting entry on December 31,2024. Note: Enter debits before credits. On April 1,2024 , the company paid $2,040 for a two-year fire and liability insurance policy and debited prepaid insurance. Prepare the necessary adjusting entry on December 31, 2024. Note: Enter debits before credits. On October 1, 2024, the company borrowed $17,000 from a local bank and signed a note. Principal and interest at 12% will be paid on September 30 , 2025. Prepare the necessary adjusting entry on December 31,2024. Note: Enter debits before credits. At year-end, there is a $1,500 debit balance in the supplies (asset) account. Only $670 of supplies remain on hand. Prepare the necessary adjusting entry on December 31,2024. Note: Enter debits before credits. Determine the amount by which net income would be misstated if Vito's failed to record these adjusting entries. (Ignore income tax expense.) Note: Amounts to be deducted should be indicated by a minus sign. Do not round intermediate calculations