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, 2020.

No.	Account		Debit			Credit
201	Accounts payable and accrued liabilities				$	2,650
103	Accounts receivable	$	9,600
168	Accumulated depreciation, equipment					10,150
300	Becky Brenner, capital					49,200
301	Becky Brenner, withdrawals		38,400
101	Cash		12,700
194	Copyright		8,700
167	Equipment		39,000
633	Insurance expense		2,420
623	Interest expense		150
141	Notes receivable, due January 1, 2023		15,000
250	Long-term notes payable					19,600
610	Rent expense		10,550
402	Revenues					99,465
126	Supplies		295
637	Supplies expense		2,440
652	Telephone expense		2,770
203	Unearned revenues					13,900
688	Utilities expense		2,340
612	Wages expense		50,600
	Totals	$	194,965		$	194,965

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

1. On April 2, you received the telephone bill for the month of March for $410.
2. On March 31, Adventure Element took a university student club zip-lining. An invoice had been sent to the student club for $3,100 due April 30.
3. On March 31, the company held a teens camp for $1,670. All tickets had been prepaid two weeks in advance.
4. 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 ad.

2. Prepare an adjusted trial balance.

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