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Solve all 4 of the problems with the given information. Recording Adjusting and...

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Accounting

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Solve all 4 of the problems with the given information.
Recording Adjusting and Closing Entries - Questions 1-4 Note: please use appropriate indentation to distinguish between debited account(s) and credited account(s). Suppose on August 1, 2020, Chipotle invested $100,000 for 6 months in a certificate of deposit (CD) that pays 12% interest per year. Chipotle would not receive the interest until the CD matured on January 31, 2021. What is the adjusting entry to be recorded on December 31, 2020? Suppose on July 1, 2020, Chipotle paid $3,600 for a one-year fire insurance policy that started to take effect on October 1, 2020. What is the adjusting entry to be recorded on December 31, 2020? Suppose for the year of 2020, Chipotle needed to recognize $2,500 in depreciation. What is the adjusting entry to be recorded on December 31, 2020? Suppose except for transactions in questions 1-3, no other transactions happened in the year of 2020 for Chipotle. What is the closing entry to be recorded on December 31, 2020

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