$2\mathrm{.}66$

Consider the following transactions for Huskies Insurance Company:

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Income taxes for the year total $$50,000$ but won't be paid until next April $\frac{?}{\text{b}\text{a}\text{r}}(15).$

On June $30,$ the company lent its chief financial officer $$58,000$; principal and interest at $7\%$ are due in one year.

On October $1,$ the company received $$14,800$ 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. $($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field. Do not round intermediate calculations.$)$

Income taxes for the year total $$50,000$ but won't be paid until next April $15.$ Record the adjusting entry for income taxes at its year$-$end of December $31.$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$December $31,,,],[,,,],[,,,],[,,,]]$

On June $30,$ the company lent its chief financial officer $$58,000$; principal and interest at $7\%$ are due in one year. Record the adjusting entry for interest at its year$-$end of December $31.$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$December $31,,,],[,,,],[,,,]]$

On October $1,$ the company received $$14,800$ from a customer for a one$-$year property insurance policy. Deferred Revenue was credited on October $1.$

Record the adjusting entry for deferred revenue at its year$-$end of December $31.$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$December $31,,,],[,,,],[,,,],[,,,]]$