Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted trial balance as of December 31, 2018, appears below. December 31 is the company's fiscal year-end. Accounts Debits Credits Cash $ 10,300 Accounts Receivable 9,500 Supplies 2,000 Prepaid Rent 7,200 Equipment 90,000 Accumulated Depreciation $ 12,000 Accounts Payable 7,700 Salaries Payable 0 Interest Payable 0 Utilities Payable 0 Notes Payable 20,000 Common Stock 45,000 Retained Earnings 19,000 Service Revenue 42,200 Salaries Expense 24,500 Interest Expense 0 Rent Expense 0 Supplies Expense 0 Utilities Expense 2,400 Depreciation Expense 0 Totals $ 145,900 $ 145,900 Information necessary to prepare the year-end adjusting entries appears below. a. Depreciation of equipment for the year is $6,000. b. Accrued salaries at year-end should be $2,100. c. Crimson Tide borrows $20,000 on September 1, 2018. The principal is due to be repaid in four years. Interest is payable each August 31 at an annual rate of 12%. d. Unused supplies at year-end total $700. Crimson Tide debits Supplies at the time supplies are purchased. e. Crimson Tide opens a second studio by paying for one year of rent in advance on April 1, 2018, for $7,200 ($600 per month) debiting Prepaid Rent. f. Unpaid utilities for December total $200.