Enabled: Midterm exam The information necessary for preparing the Decen fiscal year-end is December 31. a. On July 1, 2021, purchased $19,500 of IBM Corpo July 1. The annual interest rate is 10%. b. Vito's depreciable equipment has a cost of $6,60 The straight-line depreciation method is used. c. On November 1, 2021, the bar area was leased to months' rent and credited deferred rent revenue. d. On April 1, 2021, the company paid $1,320 for at e. On October 1, 2021, the company borrowed $11,0 on September 30, 2022. f. At year-end, there is a $1,200 debit balance in the Required: 1. Prepare the necessary adjusting journal entries at 2. Determine the amount by which net income would expense.) Complete this question by entering your answer Required 1 Required 2 Determine the amount by which net income would be m income tax expense.) (Amounts to be deducted should Income Overstated Ind Adjustments to Enabled: Midterm exam The information necessary for preparing the Decen fiscal year-end is December 31. a. On July 1, 2021, purchased $19,500 of IBM Corpo July 1. The annual interest rate is 10%. b. Vito's depreciable equipment has a cost of $6,60 The straight-line depreciation method is used. c. On November 1, 2021, the bar area was leased to months' rent and credited deferred rent revenue. d. On April 1, 2021, the company paid $1,320 for at e. On October 1, 2021, the company borrowed $11,0 on September 30, 2022. f. At year-end, there is a $1,200 debit balance in the Required: 1. Prepare the necessary adjusting journal entries at 2. Determine the amount by which net income would expense.) Complete this question by entering your answer Required 1 Required 2 Determine the amount by which net income would be m income tax expense.) (Amounts to be deducted should Income Overstated Ind Adjustments to