Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted trial balance as of December $31,2024,$ appears below. December $31$ is the company's fiscal year$-$end.

Accounts Debits Credits

Cash $ $38,300$

Accounts Receivable $12,300$

Interest Receivable $0$

Supplies $4,800$

Prepaid Rent $10,000$

Land $106,000$

Notes Receivable $-$ Long term $48,000$

Accounts Payable $ $11,900$

Salaries Payable $0$

Deferred Revenue $6,700$

Utilities Payable $0$

Common Stock $143,400$

Retained Earnings $23,900$

Service Revenue $70,200$

Interest Revenue $0$

Salaries Expense $31,500$

Rent Expense $0$

Supplies Expense $0$

Utilities Expense $5,200$

Totals $ $256,100$ $ $256,100$

In addition, the company had the following year$-$end adjusting entries.

Transaction Accounts Title Debits Credits

a$.$ Salaries Expense $3,500$

Salaries Payable $3,500$

b$.$ Interest Receivable $2,200$

Interest Revenue $2,200$

c$.$ Supplies Expense $2,700$

Supplies $2,700$

d$.$ Deferred Revenue $4,700$

Service Revenue $4,700$

e$.$ Rent Expense $6,800$

Prepaid Rent $6,800$

f$.$ Utilities Expense $1,600$

Utilities Payable $1,600$