Question $30(15$ points$)$

The records of Jerick Corp. show the following information:

$($a$)$ Purchased a three$-$year insurance policy for $$7,200$ on September $1,2018,$ and recorded the premium payment in the asset account.

$($b$)$ Borrowed $$60,000$ on a $1-$year, $12\%$ note on July $1,2018.$ Interest is payable at maturity.

$($c$)$ Collected $$8,400$ on October $1,2018,$ to cover six months' rent paid in advance, and recorded the receipt in a liability account.

$($d$)$ The Allowance for Doubtful Accounts shows an unadjusted balance of $$300($debit$)$ as of December $31,2018.$ Based on an aging of receivables, it is determined that the balance in the allowance account should be $$1,775$ at December $31,2018.$

$($e$)$ Machinery purchased on January $1,2018,$ for $$300,000$ is to be depreciated at the rate of $20$ percent per year.

Prepare journal entries to adjust the books of Jerick Corp. at December $31,2018.$