Problem 3-3A (Static) Record adjusting entries (LO3-3) The information necessary for preparing the 2024 year-end adjusting entries for Gamecock Advertising Agency appears below. Gamecock's fiscal year-end is December 31. 1. On July 1, 2024, Gamecock received $6.000 from a customer for advertising services to be given evenly over the next 10 months Gamecock credited Deferred Revenue on July 1 2. At the end of the year, income taxes owed are $7,000. 3. On May 1, 2024, the company paid $4,800 for a two-year fire and llability insurance policy. The company debited Prepaid Insurance on May 1 . 4. On September 1, 2024, the company borrowed $20,000 from a local bank and signed a note. Principal and interest at 12% will be paid on August 31,2025 5. At year-end there is a $2,700 debit balance in the Supplies (asset) account. Only $1,000 of supplies remains on hand at the end of the year. Required: Record the necessary adjusting entries on December 31, 2024. No prior adjustments have been made during 2024. (Do not round intermediate calculations. If no entry is required for a particular transaction/event, select "No Journol Entry Required" in the first occount field.)