Solve this and leave an explanation please:)

10.000 polnts Problem 2-7 Adjusting entries and income effects [LO2-4, 2-51 The information necessary for preparing the 2016 year-end adjusting entries for Vito's Pizza Parlor appears below. fiscal year-end is December 31. a. on July 1, 2016, purchased $10,000 of IBM Corporation bonds at face value. The bonds pay interest b. twice a year on January 1 and July 1. The annual interest rate is 12%. no salvage value. The equipment has a cost of $30,000, a five-year life, and equipment was purchased in 2014. The straight-line depreciation method is used. received $6,000 c. November 1, 2016, the bar area was leased to Jack Donaldson one year. Vitos representing the first months' rent and credited deferred rent revenue. debited d. On April 1, 2016, the company paid $2,400 for two-year fire and liability insurance policy and e. insurance expense. bomowed $20,000 from a local bank and signed a note. Principal and On October the company interest at 12% will be paid on September 30, 2017. $700 of supplies f. At year-end, there is a $1,800 debit balance in the supplies (asset) account. Only remain on hand. Required: December 31, 2016. (If no entry is required for a 1. Prepare the necessary adjusting joumal entries at account field. Do not round particular transaction, select "No journal entry required" in the first intermediate calculations.)