1. The prepaid insurance account shows a debit of $6,624, representing the cost of a 2-year fire insurance policy dated August 1 of the current year.
2. On November 1, Rental Revenue was credited for$3,144, representing revenue from a subrental for a 3-month period beginning on that date.
3. Purchase of advertising materials for $847 during the year was recorded in the Advertising Expense account. On December 31, advertising materials of $349 are on hand.
4. Interest of $854 has accrued on notes payable.
Write adjusting entries for these four and reversing entries where applicable.