Excalibur Corporation sells video games for personal computers. The unadjusted trial balance as of December 31, 2018, appears below. December 31 is the company's fiscal year-end. The company uses the perpetual inventory system Account Title DebitsCredits 24,000 33,200 Cash Accounts receivable Supplies Prepaid rent Inventory office equipment Accumulated depreciation-office equipment Accounts payable Salaries and wages payabl Note payable Common stock Retained earnings Sales revenue Cost of goods sold Interest expense 72,000 85,950 10,700 26,800 3,700 37,000 87,000 22,100 187,000 102,000 salaries and vages expense 33,050 14,700 2,700 6,700 374,300 Rent expense Supplies expense Utility expense Totals 374,300 Information necessary to prepare the year-end adjusting entries appears below 1. The office equipment was purchased in 2016 and is being depreciated using the straight-line method over an nine-year useful life with no salvage value. 2. Accrued salaries and wages at year-end should be $5,550. 3. The company borrowed $37,000 on September 1, 2018. The principal is due to be repaid in 12 years. Interest is payable twice a year on each August 31 and February 28 at an annual rte of 12%. 4. The company debits supplies expense when supplies are purchased. Supplies on hand at year-end cost $570. 5. Prepaid rent at year-end should be $1,700. 5. rent at year-end should be $1,700. Prepare the necessary December 31, 2018, adjusting entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations.) No 10,700 10,700 Suppliese 1,700 KPrex4 of 6 Next > MacBook Pro