From the trial balance and the information that follows, prepare annual adjusting entries. (list all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter 0 for the amounts.) 1. The buildings have an estimated life of 30 years with no residual value. (The company uses the straight-line method.) 2. The equipment is depreciated at 10% of its year-end carrying value per year. 3. Insurance expired during the year was $5,000. 4. The rental revenue is the amount received for 11 months for dining facilities. The December rent of $4,130 has not yet been received. A Rent Receivable account is used. 5. It is estimated that 20% of the accounts receivable will be uncollectible. 6. Salaries and wags earned but not paid by December 31 amounted to $3,670. 7. Sales revenue included dues paid in advance by members and totalled $9,860. Prepaid insurance Common shares Retained earnings Sales revenue Rent revenue Utilities expense Salaries and wages expense Repairs and maintenance expense 11,500 854,220 154,600 416,500 45,430 72,700 91,300 $1,638,70051,500$1,638,700 Trial Balance December 31 CashAccountsreceivableAllowancefordoubtfulaccountsDebit$113,00063,200$9,350Credit Land 345,500585,000 Accumulated depreciation-buildings 40,100 Equipment 305,000 Accumulated depreciation-equipment 118,500 Prepaid insurance 11,500 Common shares 854,220 Retained earnings 154,600 Sales revenue 416,500