Prepare adjusting journal entries on December 31, 2023, for Denver Company. Denvers fiscal year ends on December 31. Write NONE if no adjusting entry is required.

1) On August 1, 2023, Denver paid its landlord $6,000 representing rent for six months, August 2023 through January 2024. Prepaid rent was debited when paid.

2) On August 1, 2023, Denver borrowed $30,000 from a local Bank and signed a note. The note requires interest to be paid annually on July 31 at 5%.

3) On April 1, 2023, Denver paid $2,400 for a two-year fire insurance policy and debited insurance expense.

4) Denver debits supplies (as an asset) when purchased at $3,000 in 2023. Supplies on hand at year-end cost $500.

5) Denver's equipment was purchased at a cost of $30,000 on January 1, 2023. It has a five-year useful life and no salvage value. The straight-line depreciation is used.

6) Denver collected $8,400 on October 1, 2023 to cover six months rent paid in advance by a tenant and recorded the receipt in a liability account (unearned revenue).

7) Denver received $2,400 in advance on September 1, 2023 for consulting services to be rendered evenly over the next six months. The entire $2,400 was credited to consulting revenue.

8) Denver employees work Monday through Friday, and salaries of $3,600 per week are paid each Friday. Denver's year-end falls on Tuesday.