Adjusting Journal Entries Trial Balance Exercise 1. Camsung depreciates equipment using the straight-line method, assuming a 4 year life and an estimated salvage value of $30,000. Assume there were no purchases or sales of equipment during 2019. 2. Based on an aging of its accounts receivable, Camsung estimates that 8% of its Accounts Receivable balance on December 31, 2019 will become uncollectible. 3. Camsung rents the building that it uses for its operations. The monthly rental amount is $10,000. On July 1, 2019, Camsung paid $90,000 for rental of the facility from July 1, 2019 through March 31, 2020. 4. On August 1, 2019, a client borrowed $30,000 from Camsung. Camsung required the client to sign a note. The note requires principal and 7% interest to be paid on May 1, 2020