Quick accounting questions.

1. (3 pts) AC Corporation borrowed $75,000 from BankOne on September 30th. The loan was for 6 months with an annual interest rate of 8%. Interest is paid at the end of the loan period. Provide AC Corporation's December 31st adjusting journal entry assuming no adjusting entries have been made since the loan was made. Be sure to list the impacted account names. 2. (3 pts) The beginning balance in the deferred revenue account was $35,000. During the year, the company was paid $90,000 in advance of doing work. If the ending balance in deferred revenue was $45,000, what was the amount of revenue recognized during the year? 3. (4 pts) Moscow Mule maintains their accounting records on the cash basis. For 2018, net cash receipts (receipts minus disbursements) were $10,000. Jan 1 Dec 31 Accounts Receivable $1,500 $1,800 Prepaid Rent $1,000 $1,200 Compute the accrual based net income for 2018