Item2 5 points return to questionitem 2item 2 5 points brief exercise 2-5 adjusting entries [lo2-5] a company has a fiscal year-end of december 31: (1) on october 1, $21,000 was paid for a one-year fire insurance policy; (2) on june 30 the company lent its chief financial officer $19,000; principal and interest at 5% are due in one year; and (3) equipment costing $69,000 was purchased at the beginning of the year for cash. depreciation on the equipment is $13,800 per year. prepare the necessary adjusting entries at december 31 for each of the above items. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.