Adventure Elements provides outdoor activities including ropes courses, rock climbing, and zip$-$lining. The company offers a unique experience for team building activities, camps for youth, and anyone seeking outdoor adventure.

The following is trial balance for the year ended March $31,2023.$

No$.$ Account Debit Credit

$201$ Accounts payable and accrued liabilities $ $4,200$

$103$ Accounts receivable $ $8,400$

$168$ Accumulated depreciation, equipment $7,400$

$300$ Becky Brenner, capital $48,750$

$301$ Becky Brenner, withdrawals $35,000$

$101$ Cash $10,250$

$194$ Copyright $9,050$

$167$ Equipment $28,000$

$633$ Insurance expense $2,340$

$623$ Interest expense $320$

$141$ Notes receivable, due January $1,202612,100$

$250$ Long$-$term notes payable $27,300$

$610$ Rent expense $7,600$

$402$ Revenues $74,155$

$126$ Supplies $335$

$637$ Supplies expense $2,770$

$652$ Telephone expense $2,390$

$203$ Unearned revenues $10,200$

$688$ Utilities expense $2,450$

$612$ Wages expense $51,000$

Totals $ $172,005$ $ $172,005$

The following is additional information that has not been included in the trial balance.

On April $2,$ you received the telephone bill for the month of March for $$505.$

On March $31,$ Adventure Element took a university student club zip$-$lining. An invoice had been sent to the student club for $$1,860$ due April $30.$

On March $31,$ the company held a teen$$s camp for $$2,050.$ All tickets had been prepaid two weeks in advance.

The equipment has an estimated useful life of $20$ years.

Use straight$-$line method for depreciating Equipment.

Required:

$1.$ Prepare the missing adjusting entries for transactions a$$d$.$

$2.$ Prepare an adjusted trial balance.

$3.$ Based on your adjusted trial balance, prepare the closing entries. Journalize the closing entries.