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 $5,300 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 $31,500, 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 $3,960 for a two-year fire and liability insurance policy and debits Prepaid Insurance. 4. On September 1, 2021, the company borrows $13,000 from a local bank and signs a note. Principal and interest at 9% will be paid on August 31, 2022. 5. At year-end there is a $2,350 debit balance in the Supplies (asset) account. Only $930 of supplies remains on Gamecock's depreciable equipment has a cost of $31,500, 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 $3,960 for a two-year fire and liability insurance policy and debits Prepaid Insurance. 4. On September 1, 2021, the company borrows $13,000 from a local bank and signs a note. Principal and interest at 9% will be paid on August 31, 2022. 5. At year-end there is a $2,350 debit balance in the Supplies (asset) account. Only $930 of supplies remains on hand. Required: Record the necessary adjusting entries or 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.)