Question 1 The following transactions pertain to the Bongiorno Corporation's 204 fiscal year: 01-Jan The business was established by Joe Bongiorno who invested $100,000 cash in exchange for common shares. 02-Jan Signed a two-year lease for office space. The monthly rent is $3,000. The first month's rent was paid on Jan 2. In addition, a $5,000 security deposit was also paid to the landlord. This security deposit will be refundable on December 31,205. 15-Jan Purchased $3,500 of supplies on account. 30-Jan Purchased office furniture costing $15,000 for cash. 31-Jan Purchased a two-year insurance policy at a cost of $3,840. The insurance policy takes effect on Feb 1. 15-Feb Paid for the supplies purchased on Jan 15. 15-Dec Received $4,500 from a customer for services to be provided in January 205. 31-Dec Write the adjusting entry for the insurance expense. 31-Dec It is estimated that the furniture will be used for 10 years. Assume straight-line depreciation and no residual value. 31-Dec A count of supplies shows that there are $1,100 of supplies remaining. Required- Write journal entries to record all of the above transactions