The information necessary for preparing the 2021 year-end adjusting entries for Gamecock Advertising Agency appears below. Gamecock's fiscal year-end is December 31 1. On July 1, 2021, Gamecock receives $5,600 from a customer for advertising services to be given evenly over the next 10 months. Gamecock credits Deferred Revenue 2. At the beginning of the year, Gamecock's depreciable equipment has a cost of $33,000, a five-year life, and no salvage value. The equipment is depreciated evenly (straight-line depreciation method) over the five years. 3. On May 1, 2021, the company pays $4,320 for a two-year fire and liability insurance policy and debits Prepaid Insurance 4. On September 1, 2021, the company borrows $16,000 from a local bank and signs a note. Principal and interest at 12% will be paid on August 31, 2022. 5. At year-end there is a $2,500 debit balance in the Supplies (asset) account. Only $960 of supplies remains on hand Required: Record the necessary adjusting entries on December 31, 2021 No prior adjustments have been made during 2021. (Do not round intermediate calculations. If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 On July 1, 2021, Gamecock receives $5,600 from a customer for advertising services to be given evenly over the next 10 months. Gamecock credits Deferred Revenue. Record the adjusting entry for deferred revenue at its year- end of December 31. Note: Enter debits before credits L