When the accounts of Martinez Inc. are examined, the adjusting data listed below are uncovered on December 31, the end of an annual fiscal period.

1. The prepaid insurance account shows a debit of $4,800, representing the cost of a 2-year fire insurance policy dated August 1 of the current year.

2. On November 1, Rent Revenue was credited for $1,845, representing revenue from a subrental for a 3-month period beginning on that date.

3. Purchase of advertising materials for $763 during the year was recorded in the Advertising Expense account. On December 31, advertising materials of $315 are on hand.

4. Interest of $821 has accrued on notes payable.

Prepare the following in general journal form. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) IF POSSIBLE PLEASE EXPAIN HOW YOU GOT YOUR ANSWERS, THANK YOU!!!

(a) The adjusting entry for each item. No.

Account Titles and Explanation Debit Credit

(b) The reversing entry for each item where appropriate.

No.

Account Titles and Explanation

Debit

Credit