Jasper Evans is the new owner of Inspired Designs. At the en…

Jasper Evans is the new owner of Inspired Designs. At the end of December 2025, Jasper is trying to prepare annual financial statements. Below is some information related to unrecorded expenses that the business incurred during the year. 1. At the end of the year, he had not yet received the utility bill. Based on past experience, he estimated the bill would be approximately $800. 2. On August 1, Roddick borrowed $30,00 from a local bank on a 5-year mortgage. The annual interest rate is 4%. 3. The prepaid insurance account shows a debit of $6,000, representing the cost of a 1 year fire insurance policy dated August 1 of the current year. Prepare the adjusting journal entries as of December 31, 2025, suggested by the information above.