PROBLEM IV 10 ADJUSTING ENTRIES For each of the following transactions (a) through (e) for Copperfield's Marketing Company, prepare the adjusting entry. The process includes (1) determining if revenue was earned or an expense was incurred, (2) determining whether cash was received or paid in the past or will be received or paid in the future, and (3) computing the amount of the adjustment. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) a) Collected $1,200 rent for the period December 1 of the current year to April 1 of next year, which was credited to Uneamed Rent Revenue on December 1. b) Purchased a machine for $32,000 cash on January 1. The company estimates annual depreciation at $3,200. c) Paid $5,000 for a two-year insurance premium on July 1 of the current year, debited Prepaid Insurance for that amount 29 Required Please prepare 1 adjusting entry for transactions a), b) and c)