12.800 IV. Adjusting Entries (26 points) SAP's unadjusted trial balance for the year ended 12/31/21 is provided below. Debite Cash $60,600 Accounts Receivable Inventory 26.000 Supplies 8.800 Prepaid Insurance 12,000 Note Receivable 15.000 Equipment, net 90,000 Accounts Payable 516,700 Uncamned Rent Revenue 18.000 Common Stock 90.000 Retained Earnings 69 500 Dividends 12,000 Sales Revenue 216,000 Rent Revenue 26.500 COGS 120.000 Utilities Expense Salaries Expense 5.000 58,600 Income Tax 16.000 Total 5436.800 5436800 Analysis reveals the following additional information: a) A physical count of supplies on December 31, 2021, indicates that supplies of $1.600 are on hand. b) During the year, SAP rented a floor of the office building to Gates Company for one year. Gates paid $18,000 on August 1, the rent for 12 months. c) SAP received a 10-month note (the only note received by SAP during year 2021), with an annual interest rate of 8%, from a customer on 9/1/2021. The note and interest will not be collected until 7/1/2022 d) Salaries amounting to $7,000 for the last three days in December were not paid and not recorded. The next payroll day will be in January, 2022 e) SAP purchased a fire insurance on its office building with cash on April 1, 2021. The insurance expires March 31, 2023. SAP paid $12,000 in full when purchasing the insurance Given the information provided above, please Prepare the necessary adjusting entries comit explanations and date please) at year-end and show the calculation process when necessary