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A company has a fiscal year-end of December 31: (1) on October 1, $26,000 was paid for a one-year fire insurance policy; (2) on June 30 the company advanced its chief financial officer $24,000; principal and interest at 6% on the note are due in one year; and (3) equipment costing $74,000 was purchased at the beginning of the year for cash. Depreciation on the equipment is $14,800 per year. Prepare the necessary adjusting entries at December 31 for each of the above items. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

equipment CUSLIITY P14, VVU was pullilastu al uile veyly UI use y al lui Casil. VepieLIAUDIT UIT ule EquipmELL IS 214, ovu per year. Prepare the necessary adjusting entries at December 31 for each of the above items. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 > On October 1, $26,000 was paid for a one-year fire insurance policy. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet On June 30 the company lent its chief financial officer $24,000; principal and interest at 6% are due in one year. Note: Enter debits before credits. General Journal Debit Credit Transaction 2 Record entry Clear entry View general journal View transaction list Journal entry worksheet Equipment costing $74,000 was purchased at the beginning of the year for cash. Depreciation on the equipment is $14,800 per year. Note: Enter debits before credits. General Journal Debit Credit Transaction 3 Record entry Clear entry View general journal

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