please make journal entries remember to include a description under each entry

1 On March 1, ABC purchased a one-year liability insurance policy for $98,400. Upon purchase, the following journal entry was made: Dr Prepaid insurance Cr Cash 98,400 98,400 The expired portion of insurance must be recorded as of 12/31/14. Notice that the expired portion from March through November has been recorded already. Make sure that the Piepaid Insurance balance after the adjusting entry is conrect. 0 2 Depreciation expense must be recorded for the month of December. 1The building was purchased with cash on February 1, 2014 for $150,000 with a remaining useful life of 30 years and a salvage value of $6,000. 3The equipment was purchased with cash on February 1, 2014 for $60,000 with a remaining useful life of 5 years and a salvage value of $3,000 2 The method of depteciation for the building is straight line. 4 The method of depreciation for the equipment is double-declining balance. 5 16 Depreciation has been secorded for the building and equipment for months February through November