3) As of December 31, a search revealed the following information. Record any necessary adjusting entries for the year on the Adjusting Entries tab. 1 The computer equipment purchased on November 1 has a 5-year life and an expected residual (salvage) value of $1000. 2 Record any interest that has accrued on the note signed on November 1 for the computer system. 3 The rent paid on November 2 is for two years beginning on November 1. 4 The insurance policy purchased on November 18 is effective beginning December 1. 5 Supplies on hand as of December 31 totaled $900. 6 The delivery truck purchased on December 1 has a 10-year life and an expected residual (salvage) value of $4000. 7 Accrue the interest, if needed, on the note signed on December 1. 8 Record any bad debt expense for the year ended December 31. If needed, round to the nearest dollar. 9 Utilites accrued but not yet paid as of December 31 totaled $1800