The Porter Company began operations on January 1, 20x1. The company owns an office building containing 20 separate offices. Adjusting entries are prepared once a year, on December 31st Selected Iinformation is provided below pertaining to certain accounts at 12/31/x5 1) A note recelvable exists, as follows Dated: 14,400 8 months Term of note: Stated interest rate: 6% 696 2) A prepaid Insurance account consists of two policies. The amounts indicated represent the full premium paid for the entire term of the 3 year policy: dated:5/1/x4 Total premium paid: earpolicy-dated: 10/1/x5 Total premium paid: 12,060 6,720 B: 3heompany purchased new heating equipment, applving the straight-line method of depreclation: $120,000 9/1/x3 Date of acquisition: Estimated useful Iife: 10 years Unadiusted balance in accumulated depreciation account at 12/31/s 12,800 4) Accounts payable are owed to suppliers of cleaning materials for the building. Materials expense for the year The 1/1/x5 balance in accounts payable: Cash paid during the year for supplies: 30,130 5) Two notes payable exist at year-end. For notes with terms exceeding one year, interest is payable annualily, on the anniversary date of the note (e-g, the interest for the first year for note payable A is due on 4/1/s, etc.) For notes with terms less than one year, full Interest is paid when the note is due Note payable A- dated: Principal: Term of note: 4/1/4 S 18,600 Stated interest rate: 6% Note Payable B dated: Principal Term of note: Stated interest rate: 8/1/x5 9,600 8 months 5%