ces Excalibur Corporation sells video games for personal computers. The unadjusted trial balance as of December 31, 2024, appears below. December 31 is the company's reporting year-end. The company uses the perpetual inventory system. Account Title. Cash Debits $35,300 Accounts receivable. Supplies Prepaid rent Inventory Office equipment Accumulated depreciation Accounts payable Salaries payable Notes payable Common stock Retained earnings Dividends Sales revenue Cost of goods sold Interest expense Salaries expense Rent expense Supplies expense Utilities expense Totals Credits 32,300) 3,200 26,000 63,000 59,600 $ 12,100 25,900 2,800 28,000 92,000 19,950 8,400 178,000 93,000 32,150 0 5,800 $ 358,750 $ 358,750 Information necessary to prepare the year-end adjusting entries appears below. 1. The office equipment was purchased in 2022 and is being depreciated using the straight-line method over a 8-year useful life with no residual value. 2. Accrued salaries at year-end should be $4,200. 3. The company borrowed $28,000 on September 1, 2024. The principal is due to be repaid in 8 years. Interest is payable twice a year on each August 31 and February 28 at an annual rate of 12%. 4. The company debits supplies when supplies are purchased. Supplies on hand at year-end cost $480. 5. Prepaid rent expired during the period is $14,200. Required: Prepare the necessary December 31, 2024, adjusting entries. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round