Question one - Adjusting the Accounts - 20 marks - 20 minutes. The company has earned (but not recorded) $1,200 of interest revenue for the year ended December 31 . The interest payment will be received 12 days after the year-end on January 12. ( 2 marks) The company has a bank loan and has incurred (but not recorded) interest expense of $1,500 for the year ended December 31 . The company will pay the interest seven days C after the year-end on January 7. (2 marks) The Prepaid Insurance account had a $7,000 debit balance on December 31 before adjusting for the costs of any expired coverage. An analysis of the company's insurance