LUI. Other Cours... Chapter 4. Microecono... what does Tone in Bus. Accentuati Homework Stakeholder Saved Help M4-4 (Algo) Recording Adjusting Entries (Deferred Accounts) L04-1 For each of the following transactions (a) through (for Catena's Marketing Company, prepare the adjusting entry. The process includes (1) determining if revenue was earned or an expense was incurred, (2) determining whether cash was received or paid in the past or will be received or paid in the future, and (3) computing the amount of the adjustment (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) a. Collected $3,200 rent for the period December 1 of the current year to April 1 of next year, which was credited to Unearned Rent Revenue on December 1. b. Purchased a machine for $37,000 cash on January 1. The company estimates annual depreciation at $3,600. C. Paid $3,900 for a two-year Insurance premium on July 1 of the current year debited Prepaid Insurance for that amount. View transaction list Journal entry worksheet 3 Record the adjusting journal entry for the year ended December 31 related to rent. Note: Enter debits before credits. Transaction General Journal Debit Credit