Consider the following transactions for Huskies Insurance Company:
1. Income taxes for the year total $42,000 but won’t be paid until next April 15.
2. On June 30, the company lent its chief financial officer $50,000; principal and interest at 7% are due in one year.
3. On October 1, the company received $16,000 from a customer for a one-year property insurance policy. Deferred Revenue was credited on October 1.

Required:
For each item, record the necessary adjusting entry for Huskies Insurance at its year-end of December 31. No adjusting entries were made during the year.