You have been hired as a new accountant for The Highland Company. Your first assignment is to determine the adjusting entries required for Highland Company on 12/31/2022 in order to ensure that the account balances that will be used in the financial statements are accurate and up-to-date. Required: Show the adjusting entries that you would make given the additional data below. In addition to the formal journal entry,-please also indicate the type of adjusting entry that is being made. ADJUSTING ENTRY \#1: The balance in the prepaid insurance account prior to adjustment was $4,800. Insurance expired during the year amounted to $2,000 for Highland Company. ADJUSTING ENTRY \#2: Bad debts for the year are estimated by Highland Company to be $2,800. The Allowance for Uncollectible Accounts prior to adjustment has a $1,000 debit balance. ADJUSTING ENTRY \#3: Subscriptions of $18,000 received on October 1st (for a 12 month subscription). Highland Company credited this to Sales Revenue (strangely!). ADJUSTING ENTRY \#4: On July 1st, Highland Company paid rent of $36,000 paid in advance for a 9 month period. This amount was recorded as Rent Expense on July 1st (strangely!). ADJUSTING ENTRY \#5: Highland Company received a 5%,6 month note receivable received from a customer on November 1st.. The face value of the note was $10,000. [Hint: Only focus on recording the interest on 12/31 for Highland Company, not the note. The 6 month amount is: 5%x $10,0006/12. Round to two decimal places