Prepare the necessary adjusting entries at December 31, 2021, for the Falwell Company for each of the following situations. Assume that no financial statements were prepared during the year and no adjusting entries were recorded.
1. A three-year fire insurance policy was purchased on July 1, 2021, for $12,000. The company debited insurance expense for the entire amount.
2. Depreciation on equipment totaled $15,000 for the year.
3. Employee salaries of $18,000 for the month of December will be paid in early January 2022.
4. On November 1, 2021, the company borrowed $200,000 from a bank. The note requires principal and interest at 12% to be paid on April 30, 2022.
5. On December 1, 2021, the company received $3,000 in cash from another company that is renting office space in Falwell’s building. The payment, representing rent for December, January, and February was credited to deferred rent revenue.
6. In the previous transaction, suppose the company credited rent revenue rather than deferred rent revenue for $3,000 on December  1, 2021. What would be the appropriate adjusting entry at December 31, 2021?