Required information [The following information applies to the questions displayed below] The following are transactions for the Sky Blue Corporation: a. Collected $2,550 rent for the period October 1 to December 31, which was credited to Deferred Revenue on October 1 . b. Paid $1,320 for a two-year insurance premium on October 1 and debited Prepaid insurance for that amount. c. Used a machine purchased on October 1 for $48,600. The company estimates annual depreciation of $4,860. equired: or each of the above transactions for the Sky Blue Corporation, give the accounting equation effects of the adjustments required at e end of the month on October 31. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Required information [The following information applies to the questions displayed below] The following are transactions for the Sky Blue Corporation: a. Collected $2,550 rent for the period October 1 to December 31, which was credited to Deferred Revenue on October 1 . b. Paid $1,320 for a two-year insurance premium on October 1 and debited Prepaid Insurance for that amount. c. Used a machine purchased on October 1 for $48,600. The company estimates annual depreciation of $4,860. Required: Eor each of the above transactions for the Sky Blue Corporation, prepare the adjusting journal entries required on October 31 . (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 23 Record the rent revenue earned during October