Required information For each of the following transactions for the Sky Blue Corporation: a Collected $3,750 rent for the period October 1 to December 31, which was credited to Deferred Revenue on October 1 b. Paid $2,280 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount. used a machine purchased on October 1 for $53,400. The company estimates annual depreciation of $5,340 Prepare the adjusting journal entries required on October 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the rent revenue earned during October Note: Enter debits before credits. Transaction General Journal Debit Credit a. 1,250 Deferred Revenue 1,250 Record entry Clear entry View general journal