The following transactions occurred during December 31, 2021, for the Falwell Company. A three-year fire insurance policy was purchased on July 1, 2021, for $9,000. The company debited insurance expense for the entire amount. Depreciation on equipment totaled $10,000 for the year. Employee salaries of $12,000 for the month of December will be paid in early January 2022. On November 1, 2021, the company borrowed $100,000 from a bank. The note requires principal and interest at 12% to be paid on April 30, 2022. On December 1, 2021, the company received $3,300 in cash from another company that is renting office space in Falwellâs building. The payment, representing rent for December, January, and February was credited to deferred rent revenue. On December 1, 2021, the company received $3,300 in cash from another company that is renting office space in Falwellâs building. The payment, representing rent for December, January, and February was credited to rent revenue rather than deferred rent revenue for $3,300 on December 1, 2021.

Required:
Prepare the necessary adjusting entries for each of the above situations.

Northern lights electronics just completed plans to distribute its new tablet. the product has several unique features that differentiate it from competitor products. the marketing team plans to begin a roll-out with to only one traditional retailer for the first two months. this strategy will give consumers the perception of the product’s stand-out personality and increase demand. marketing will proceed with for the next four months, where it plans to distribute to three other retailers, as well. for the last six months of the year, it will initiate distribution agreements with discount retailers and online retailers, and any other electronics store that wants to carry it. the marketing team is confident that the tablet will cycle through the first three stages of its product life cycle quickly. as the tablet reaches maturity during the second half of its first year in the market, it is good strategy to proceed with as described above. intensive distribution; selective distribution; exclusive distribution exclusive distribution; selective distribution; intensive distribution tertiary level distribution; secondary level distribution; mono-level distribution mono-level distribution; secondary level distribution; tertiary level distribution