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 $ 23,300 Credits Accounts receivable Supplies Prepaid rent Inventory Office equipment Accounts payable Salaries payable Accumulated depreciation Notes payable Common stock Retained earnings Dividends Sales revenue Cost of goods sold Interest expense Salaries expense Rent expense Supplies expense Utilities expense Totals 32,500 2,000 14,000 65,000 75,000 $ 10,000 26,100 3,000 30,000 80,000 22,050 6,000 180,000 95,000 0 32,350 0 6,000 $ 351,150 $ 351,150 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 ten-year useful life with no residual value. 2. Accrued salaries at year-end should be $4,500. 3. The company borrowed $30,000 on September 1, 2024. The principal is due to be repaid in 10 years. Interest is payable twice a year on each August 31 and February 28 at an annual rate of 10%. 4. The company debits supplies when supplies are purchased. Supplies on hand at year-end cost $500. 5. Prepaid rent expired during the period is $13,000.