[The following information applies to the questioned below) All of the current year's entries for Zimmerman Company have been made, except the following adjusting entries. The company's annual accounting year ends on December 31 a. On September of the current year, Zimmerman collected six months rent of $8.460 on storage space. At that date, Zimmerman debited Cash and credited Uneamed Rent Revenue for $8.460. b. On October of the current yea, the company borrowed $22,800 from a local bank and signed a one year, 13 percent note for that amount. The principal and interest are payable on the maturity date. Depreciation of $2.400 must be recognized on a service truck purchased in July of the current year at a cost of $17,000. d Cash of $4.200 was collected on November of the current you for services to be rendered evenly over the next year beginning on November of the current year Une med Service Revenue was credited when the cash was received On November 1 of the current year, Zimmerman paid a one year premium for property Insurance $0,120, for coverage starting on that date. Cash was credited and Prepaid Insurance was debited for this amount The company earned service revenue of $3,900 on a speciw job that was completed December 29 of the current year Collection will be made during January of the next year. No entry has been recorded. Q. At December 31 of the current year, wages earned by employees totaled $15.000. The employees wil be paid on the next payroll date in January of the next year h On December 31 of the current year, the company estimated towed $550 for this year's property taxes on land. The tax will be paid when the bill is received in January of next year 12 Required information Required 1. Indicate whether each transaction relates to a deferred revenue deferred expense, accrued revenue or accrued expense Transaction Deferred revenue Pacord expense before expense Deferred MacBook Air ESC F2 56 A # 3 & 7 2 4 5 6 8 9 W E R T Y U O 2. Using the following headings, indicate the effect of each adjusting entry and the amount of the effect. Use for increase - for decrease (Reminder Assets Lists Stockholders' Equity, Revenues Expenses Net Income, and Net Income accounts are to Rotuned Earings, a part of Stockholders' Equity) Expenses Revenue Net Income Equity b (2.400 3.100 th