The information necessary for preparing the 2024 year-end adjusting entries for Aboud Advertising Agency appears below. Aboud's fiscal year-end is December 31. 1. On July 1,2024 , Aboud received $4,400 from a customer for advertising services to be given evenly over the next 10 months. Aboud credited Deferred Revenue on July 1. 2. At the end of the year, income taxes owed are $5,400. 3. On May 1,2024 , the company paid $2,880 for a two-year fire and liability insurance policy. The company debited Prepaid Insurance on May 1. 4. On September 1,2024 , the company borrowed $26,000 from a local bank and signed a note. Principal and interest at 12% will be paid on August 31, 2025. 5. At year-end there is a $1,900 debit balance in the Supplies (asset) account. Only $840 of supplies remains on hand at the end of the year. Required: Record the necessary adjusting entries on December 31, 2024. No prior adjustments have been made during 2024. (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.) Journal entry worksheet On July 1,2024 , Aboud received $4,400 from a customer for advertising services to be given evenly over the next 10 months. Aboud credited Deferred Revenue on July 1. Prepare the adjusting entry at December 31. Note: Enter debits before credits. Journal entry worksheet At the end of the year, income taxes owed are $5,400. Prepare the adjusting entry at December 31. Note: Enter debits before credits. Journal entry worksheet On May 1,2024 , the company paid $2,880 for a two-year fire and liability insurance policy. The company debited Prepaid Insurance on May 1. Prepare the adjusting entry at December 31 . Note: Enter debits before credits. Journal entry worksheet On September 1,2024 , the company borrowed $26,000 from a local bank and signed a note. Principal and interest at 12% will be paid on August 31, 2025. Prepare the adjusting entry at December 31. Note: Enter debits before credits. Journal entry worksheet At year-end there is a $1,900 debit balance in the Supplies (asset) account. Only $840 of supplies remains on hand at the end of the year. Prepare the adjusting entry at December 31. Note: Enter debits before credits