Question 14 Not yet answered Marked out of 4.00 P Flag question Prepare the necessary adjusting entry for each of the following Determine the impact on the basic equation if the following information is not used to adjust the accounts 1. The company rents extra office space to B & J, CPAs. B & J pays the $12,000 rent annually on January 1. 2. The company has an outstanding loan to its President in the amount of $100,000. The loan accrues interest at the annual rate of 4%. Principal and interest are due January 1, 2022. 3. The company completed work on a project during January that was not yet billed to the client. The client will be charged $2,500 1 i B I NE