Comprehensive Problem 3 Part 4: Note: You must complete parts 1, 2, and 3 before completing part 4 of this comprehensive problem. Based on the following selected data, Journalize the adjusting entries as of December 31 of the current year. If no entry is required, select "No entry required" from the dropdown and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. a. Estimated uncollectible accounts at December 31, $16,000, based on an aging of accounts receivable. The balance of Allowance for Doubtful Accounts at December 31 was $2,000 (debit). Description Debit Credit Date Dec. 31 b. The physical inventory on December 31 indicated an inventory shrinkage of $3,300. Description Debit Credit Date Dec. 31 Calculator c. Prepaid insurance expired during the year, $22,820. Description Debit Credit Date Dec. 31 d. Office supplies used during the year, $3,920. Description Debit Credit Date Dec. 31 e. Depreciation is computed as follows: Asset Cost Buildings Office Equip. Store Equip. $900,000 246,000 112,000 Residual Acquisition Useful Life Value Date in Years $0 January 2 50 26,000 January 3 5 12,000 July 1 10 Depreciation Method Used Double-declining-balance Straight-line Straight-line Description Debit Credit Date Dec. 31 1. A patent costing $48,000 when acquired on January 2 has a remaining legal life of 10 years and is expected to have value for 8 years. Date Description Debit Credit Dec. 31 9. The cost of mineral rights was $546,000 of the estimated deposit of 910,000 tons of ore, 50,000 tons were mined and sold during the year. Description Debit Credit Date Dec. 31 h. Vacation pay expense for December, $10,500. Date Description Debit Credit Dec. 31 1. A product warranty was granted beginning December 1 and covering a one-year period. The estimated cost is 4% of sales, which totaled $1,900,000 in December. Date Description Debit Credit Dec. 31 j. Interest was accrued on the note receivable received on October 17 ($100,000, 90-day, 9% note). Assume 360 days per year. Description Debit Credit Date Dec. 31