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. 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 9-year useful life with no residual value. 2. Accrued salaries at year-end should be $5,700. 3. The company borrowed $38,000 on September 1,2024 . The principal is due to be repaid in 9 years. Interest is payable twice a year on each August 31 and February 28 at an annual rate of 12%. 4. The company debits supplies when supplies are purchased. Supplies on hand at yearend cost $580. 5. Prepaid rent expired during the period is $13,800. Required: Prepare the necessary December 31,2024 , adjusting entries