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 $$3,950103$Accounts receivable$$8,050168$Accumulated depreciation, equipment $9,050300$Becky Brenner, capital $34,950301$Becky Brenner, withdrawals $30,000101$Cash $10,550194$Copyright $7,900167$Equipment $34,600633$Insurance expense $2,640623$Interest expense $515141$Notes receivable, due January $1,202615,400250$Long$-$term notes payable $21,800610$Rent expense $10,500402$Revenues $81,460126$Supplies $425637$Supplies expense $2,000652$Telephone expense $2,300203$Unearned revenues $19,600688$Utilities expense $2,730612$Wages expense $43,200$ Totals$$170,810$ $$170,810$ 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 $$555.$On March $31,$ Adventure Element took a university student club zip$-$lining. An invoice had been sent to the student club for $$2,450$ due April $30.$On March $31,$ the company held a teens camp for $$1,720.$ 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 ad$.2.$ Prepare an adjusted trial balance. $3.$ Based on your adjusted trial balance, prepare the closing entries. Journalize the closing entries.