Chapter 2 question 2I'm confused by this #2 also says on June 30th the company lent its chief financial officer $23,000 principal and interest at 5% are due in one year

Saved Help Save & Exit Submit 2 Check my work A company has a fiscal year-end of December 31: (1) on October 1, $25,000 was paid for a one-year fire insurance policy, (2) on June 30 the company advanced its chief financial officer $23,000; principal and interest at 5% on the note are due in one year, and (3) equipment costing $73,000 was purchased at the beginning of the year for cash. Depreciation on the equipment is $14,600 per year. 2 Prepare the necessary adjusting entries at December 31 for each of the above items. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) points View transaction list eBook Print Journal entry worksheet 2 3 On October 1, $25,000 was paid for a one-year fire insurance policy. Note: Enter debits before credits. Debit Credit Transaction General Journal Mc Graw