# PART 1: Prepare jpurnal entries for each of the following transactions for Fisk Corporation that has...

###### Question:

PART 1: Prepare jpurnal entries for each of the following transactions for Fisk Corporation that has a fiscal year end of December 31.

A. On october 1, $12,000 was paid for a one- year fire insurance policy. B. On june 30 the compnay lents its chief financial officer$10,00. Principal and interest at 6% are due in one year.

C. Equipment costing $60,000 was purchased at the beginning of the year for cash.Part 2. prepare teh necessary adjusting entries at December 31 for each of the items liste in part 1. Depreciation on the equipmetnt is$12,000 per year.

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