The adjusting data for Blossom Inc. listed below are available on December 31, the end of the annual period: 1. A two-year insurance policy was acquired on April 1, for $21,600 (an asset account was debited) 2. Interest has accrued on a $33,200, 6% note payable, issued on May 1. 3. On September 1, Rent Revenue was credited for $10,200, representing revenue from a sub-rental for 6 months beginning on that date. 4. Rent of $16,200 for six months for a portion of the building was received on November 1 (a liability account was credited) 5. Purchase of supplies for $2,100 during the year was recorded in the Supplies Expense account. On December 31, supplies of $280 are on hand. A. Prepare the adjusting entry for each item B. Prepare the reversing entry for each item where appropriate. (If no entry is required, State "No Entry") Waterway Company paid or collected during 2022 the following items: Insurance premiums paid $31,200 70,400 Interest collected Salaries paid 281,200 The following balances have been excerpted from Waterway's balance sheets: December 31, 2022 $2,780 Prepaid insurance Interest receivable 7,260 Salaries and wages payable 24,100 December 31, 2021 $2,900 5,540 21,200 The insurance expense on the income statement for 2022 was-31,320 The interest Revenue on the income statement for 2022 was = 72,120 The Salaries and wages expense on the income statement for 2022 was = 284,100