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. Credits Debits 24, 200 33, 400 74,000 76,800 Account Title Cash Accounts receivable Supplies Prepaid rent Inventory office equipment Accumulated depreciation-office equipment Accounts payable Salaries and wages payable Note payable Common stock Retained earnings Sales revenue Cost of goods sold Interest expense Salaries and wages expense Rent expense Supplies expense Utility expense Totals 10,900 27,000 3,900 39,000 89,000 11,550 189,000 104,000 33,250 14,900 2,900 6,900 370, 350 370, 350 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 eight-year useful life with no salvage value. 2. Accrued salaries and wages at year-end should be $5,850 3. The company borrowed $39,000 on September 1, 2018. 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 expense when supplies are purchased. Supplies on hand at year-end cost $590. 5. Prepaid rent at year-end should be $1,900. Required: 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.) Journal entry worksheet