The following transactions occurred during December 31, 2018, for the Falwell Company -3 1 A three year fire insurance policy was purchased on July 1, 2018, for $12,600. The company debited insurance expense for the entire amount 2. Depreciation on equipment totaled $12,500 for the year 3. Employee satanes of $17.000 for the month of December will be paid in early Janiuay 2019 4 On November 1, 2018, the company borrowed 5210.000 from a bank. The note requires principal and interest at 12% to be paid on April 30, 2019 5 on December 1, 2018, the company received $4100 in cast from another company that is renting office space in Falwell's building The payment, representing rent for December and January, was credited to deferred rent revenue Prepare the necessary adjusting entries for each of the above situations. Assume that no financial statements were prepared during the year and no adjusting entries were recorded. If no entry is required for a transactionevent, select "No journal entry required" in the first account field) View action lit Journal entry worksheet 2 5 A three-year fire insurance policy was purchased on July 1, 2018, for $12,600. The company debited insurance expense for the entire amount Natenter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal