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S. Miller Towing Company provides hauling and delivery services for other businesses. It is at the end of its accounting year ending December 31. The following data that must be considered were developed from the companys records and related documents:

1. On January 1 of the current year, the company purchased a new hauling van at a cash cost of $25,500. Depreciation estimated at $2,900 for the year has not been recorded for the current year.
2. During the current year, office supplies amounting to $860 were purchased for cash and debited in full to Supplies. At the end of last year, the count of supplies remaining on hand was $380. The inventory of supplies counted on hand at the end of the current year was $290.
3. On December 31 of the current year, Lanies Garage completed repairs on one of S. Miller Towings trucks at a cost of $1,100; the amount is not yet recorded by S. Miller Towing and by agreement will be paid during January of next year.
4. On December 31 of the current year, property taxes on land owned during the current year were estimated at $1,330. The taxes have not been recorded and will be paid in the next year when billed.
5. On December 31 of the current year, the company completed towing service for an out-of-state company for $6,600 payable by the customer within 30 days. No cash has been collected, and no journal entry has been made for this transaction.
6. On July 1 of the current year, a three-year insurance premium on equipment in the amount of $1,140 was paid and debited in full to Prepaid Insurance on that date. Coverage began on July 1 of the current year.
7. On October 1 of the current year, the company borrowed $12,000 from the local bank on a one-year, 10 percent note payable. The principal plus interest is payable at the end of 12 months.
8. The income before any of the adjustments or income taxes was $38,000. The companys income tax rate is 40 percent. (Hint: Compute adjusted pre-tax income based on (a) through (g) to determine income tax expense.

Required: 1. Indicate whether each transaction relates to a deferred revenue, deferred expense, accrued revenue, or accrued expense. Transaction On January 1 of the current year, the company purchased a new hauling van at a cash cost of $25,500. Depreciation estimated at $2,900 for the year has not been recorded for the current year. During the current year, office supplies amounting to $860 were purchased for cash and debited in full to Supplies. At the end of last year, the count of supplies remaining on hand was $380. The inventory of supplies counted on hand at the end of the current year was $290. On December 31 of the current year, Lanie's Garage completed repairs on one of S. Miller Towing's trucks at a cost of $1,100; the amount is not yet recorded by S. Miller Towing and by agreement will be paid during January of next year. On December 31 of the current year, property taxes on land owned during the current year were estimated at $1,330. The taxes have not been recorded and will be paid in the next year when billed. On December 31 of the current year, the company completed towing service for an out-of-state company for $6,600 payable by the customer within 30 days. No cash has been collected, and no journal entry has been made for this transaction. On July 1 of the current year, a three-year insurance premium on equipment in the amount of $1,140 was paid and debited in full to Prepaid Insurance on that date. Coverage began on July 1 of the current year. On October 1 of the current year, the company borrowed $12,000 from the local bank on a one-year, 10 percent note payable. The principal plus interest is payable at the end of 12 months. The income before any of the adjustments or income taxes was $38,000. The company's income tax rate is 40 percent. (Hint: Compute adjusted pre-tax income based on (a) through (g) to determine income tax expense.) 2. Prepare the adjusting entry required for each transaction at December 31 of the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar value) View transaction list Journal entry worksheet On January 1 of the current year, the company purchased a new hauling van at a cash cost of $25,500. Depreciation estimated at $2,900 for the year has not been recorded for the current year. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal