Consider the following items for Wolverine Properties during 2024. On December 1, 2024, Wolverine received $2,100 cash from a company renting office space from Wolverine. The payment, representing rent for December and January, was recorded to Deferred Revenue on December 1. Wolverine purchases a one-year property insurance policy on July 1, 2024, for $10,920. The payment was recorded in Prepaid Insurance for the entire amount on July 1. Employee salaries of $1,100 for the month of December will be paid in early January 2025. On November 1, 2024, the company borrowed $5,500 from a bank. The loan requires principal and interest at 12% to be paid on October 30, 2025. Office supplies at the beginning