The information necessary for preparing the December 31, 2024, year-end adjusting entries for Vito's Pizza Parior appears beiow, a. On July 1. 2024, purchased $10,000 of lM Corporation bonds at face value. The bonds pay interest twice a year on January 1 and July 1. The annual interest rate is 12%. b. Vito's depreciable equipment has a cost of $30.000, a five-year life, and no salvage value. The equipment was purchased in 2022 . The straight-line depreciation method is used. c. On November 1, 2024, the bar area was leased to Jack Donaldson for one yeac. Vito's received $6,000 representing the first six months' rent and credited deferred rent revenue at the time cash was recolved. d. On April 1, 2024, the company paid \$2,400 for a two-year fire insurance policy and debited prepaid insurance at the time of the. payment. 4. On October 1, 2024, the company borrowed $20,000 from a local bank and signed a note. Principal and interest at 12% wat be paid on September 30, 2025 f. At year-end; there is a $1,800 debit balance in the supplies (assed account. Only $700 of supplies remain on hand Required: 1. Prepare the necessary adjusting joumal entries on December 31, 2024 2. Determine the amount by which net income would be misstated it Vitols falled to repord these adjusting enties. apono income tax expense) Compiete this question by entering your answers in the taks below. Brepare the necessary adjucting joumal entries on December 31,2024 . intermeolate caiculations