Debit Credit Cash $25,000 Accounts Receivable 45,000 Allowance for Doubtful Accounts $2,000 Supplies 2,800 Prepaid Insurance 1,000 Equipment 25,000 Accumulated Depreciation-Equipment 4,000 Notes Payable 4,800 Owner's Capital 45,000 Service Revenue 79,100 Rent Expense 6,500 Salaries and Wages Expense 28,000 Utilities Expenses 1,000 Office Expense 600 $134,900 $134,900 1 Fees received in advance from clients $4,000, which were recorded as revenue. 2 Services performed for clients that were not recorded by December 31, $3,900 Equipment is being depreciated at 8% per year. A Bad debt expense for the year is $1,200 Insurance expired during the year 5400 6. Ayayal gave the bank a 90-day, 5% note for $4.800 on December 1, 2020 2 ent of the building is $500 per month. The rent for 2020 has been paid, as has that for January 2021 A Office salaries and wages earned but unpaid December 31, 2020, $1,200 Feal withdrew $10,000 cash for personal use during the year From the trial balance and other information given, prepare annual adjusting entries as of December 31, 2020. (Credit account titles are aut No. Account Titles and Explanation Debit Credit 1 Service Revenue Unearned Service Revenue 2. Accounts Receivable 3. Service Revenue Depreciation Expense Accumulated Depreciation-Equipment Bad Debt Expense Allowance for Doubtful Accounts Insurance Expense Prepaid Insurance 6 Interest Expense Interest Payable 7 Prepaid Rere Rent Expense B Salaries and Wiges Dxpense Salaries and Wages Peyable Last saved 1 hourag Saved work The auto-subekted on the due date Auto submission can take up to 10 minutes