Part II$.$ Write Journal Entries in proper form for the following economic transactions:

Paid Insurance Expense of $$1,550$ for the current month.

Purchased Equipment for $$4,500,$ putting $15\%$ down and financing the remaining amount with a $5\%$ Note Payable due in $2$ years.

Record the entry to show Equipment is being depreciated $$1,000.$

Accrued $$5,600$ of Wages expense at year end.

A company's FYE is June ${30}^{th}.$ Rent expense is $$500$ per month. On June ${15}^{th}$ the company paid $$1,500$ for Rent consisting of the current month of June and the next two months of July and August.