Required information For each of the following transactions for the Sky Blue Corporation: a. Collected $2,700 rent for the period October 1 to December 31, which was credited to Deferred Revenue on October 1. b. Paid $1,440 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount. c. Used a machine purchased on October 1 for $49,200. The company estimates annual depreciation of $4,920. 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