Week 1 Qulz 0 Help Save&ExltSubmit Brief Exercise 2-5 Adjusting entries [LO2-5] 4 A company has a fiscal year-end of December 3t on October 1, St2000 was for a oneyear fre insurance polesta on June 30 the company lent its chief financial officer S10000; principal and interest at 6% are due in one year, and O) equipment costing $60,000 was purchased at the beginning of the year for cash Depreclation on the equipment is $12000 per year Prepare the necessary adjusting entries at December 31 for each of the above tems. (If no entry is required for a transaction/event select "No Journal entry required" in the first account field.) Journal entry worksheet On October 1, $12,000 was paid for a one-year fire insurance policy. Note: Enter debits before credita. MacBook 20 3 5 8