5 (Adjusting Entries) The accounts listed below appeared in the December 31 trial balance of the Savard Theater. Debit Credit Equipment $192,000 Accumulated DepreciationEquipment $ 60,000 Notes Payable 90,000 Admissions Revenue 380,000 Advertising Expense 13,680 Salaries Expense 57,600 Interest Expense 1,400 (a) From the account balances listed above and the information given below, prepare the annual adjusting entries necessary on December 31. (Omit explanations.) 1. The equipment has an estimated life of 16 years and a salvage value of $24,000 at the end of that time. (Use straight-line method.) 2. The note payable is a 90-day note given to the bank October 20 and bearing interest at 8%. (Use 360 days for denominator.) 3. In December 2,000 coupon admission books were sold at $30 each. They could be used for admission any time after January 1. 4. Advertising expense paid in advance and included in Advertising Expense $1,100. 5. Salaries accrued but unpaid $4,700