22. The following trial balance was taken from the books of Dana Corporation on December 31, 2021 Account Cash Debit Credit Accounts Receivable $ 12.000 Note Receivable 40,000 Allowance for Doubtful Accounts 7,000 Merchandise Inventory $ 1.800 Prepaid Insurance 44,000 Furniture and Equipment 4,800 125,000 Accumulated Depreciation--F. & E. 12,500 Accounts Payable 10.800 Common Stock 44,000 Retained Earnings 57,500 Sales 300,000 Cost of Goods Sold 131,000 Salaries Expense 50,000 Rent Expense 12.800 Totals $426,600 $426,600 At year end, the following items have not yet been recorded. a. $3000 of Insurance expired during the year. b. Estimated bad debts, 3% of gross sales. c. Depreciation on furniture and equipment, $14,500 per year. d. Interest at 6% is receivable on the note for one full year. e. Accrued (unpaid) salaries at December 31, $7,800. Instructions (a) Prepare the necessary adjusting entries. (5 points) (b) Prepare the necessary closing entries. (5 points)