Boswell Group is a professional corporation providing management consulting services. Give the entry that Boswell would use to record each of the following transactions on the date it occurred. Prepare the adjusting entries needed on December 31,2000 .

1. On July 1,2000 , the company paid a 3 -year premium of $\$ 7,200$ on an insurance policy that is effective July 1, 2000, and expires June 30, 2003.

2. On February 1, 2000, Boswell paid its property taxes for the year February 1 2000 to January 31,2001 . The tax bill was $\$ 1,800$

3. On May 1,2000 , the company paid $\$ 180$ for a 3 -year subscription to an adver tising journal. The subscription starts May 1, 2000, and expires April 30, 2003.

4. Boswell received $\$ 1,800$ on September 15,2000 , in return for which the company agreed to provide consulting services for 18 months beginning immediately 5. Boswell rented part of its office space to Bristle Brush Company. Bristle paid $\$ 1,200$ on November 1,2000 , for the next six months' rent 6. Boswell loaned $\$ 100,000$ to a client. On November 1 the client paid $\$ 24,000$, which represents two years' interest in advance (November 1, 2000 through October 31, 2002).