For each of the following situations, provide the necessary adjusting entries for Hanover Ltd. (Hanover) for the year ended June 30, 2017. (These situations are tricky. When preparing each adjusting entry, compare what is recorded in the accounting system before you make your entry with what you think should be in the accounting system. Your adjusting entry should take the accounting system from "what is" recorded to "what should be" recorded.)

a. On January 2, 2017, Hanover purchased a two-year insurance policy for $15,000 cash. The transactional journal entry debited Insurance Expense for $15,000 and credited cash for $15,000.

b. On April 1, 2017, Hanover received $25,000 for goods that it would produce and de liver to a customer. Hanover delivered $5,000 of the goods each month beginning in May 2017. Hanover recorded the transaction by debiting cash for $25,000 and crediting revenue for $25,000.

c. On March 1, 2017, Hanover invested $100,000 of surplus cash in a one-year investment certificate that paid 0.5 percent per month. The $100,000 initial investment plus the interest of $6,000 are to be paid on February 28, 2018. On March 1, 2017, Hanover recorded the investment by debiting Investments for $100,000 and crediting cash for $100,000. It also debited interest receivable for $6,000 and credited interest revenue for $6,000.