journalize the necessary adjusting entries for the company at the end of 2010. show supporting calculations in your journal entry explanation.

ADJUSTING ENTRIES. NIKOLAI 117-118 The following 2010 information is available concerning the Drake Company, which adjusts and closes its accounts every December 31. A. Salaries accrued but unpaid total $2,840 on December 31, 2010. B. The $247 December utility bill arrived on December 31, 2010 and has not been paid or recorded. C. Buildings with a cost of $78,000, 25-year life and $9,000 residual value are to be depreciated, equipment with a cost of $44,000, eight-year life and $2,000 residual value is to be depreciated. The straight-line method is to be used. D. A count of supplies indicates that the store supplies account should be reduced by $128 and the office supplies account reduced by $397 for supplies used during the year. E. The company holds a $6,000, 12% (annualrate), six-month note receivable dated September 30, 2010 from a customer. The interest to be collected on the maturity date. F. Bad debts expense is estimated to be 1% of annual sales, 2010 sales G. An analysis of the company insurance policies indicates that the Prepaid Insurance account is to be reduced for the $528 of expired insurance. H. A review of travel expense reports indicates that $310 advanced to sales personnel and recorded as Travel expenses) has not yet been used by these personnel. 1. The income tax rate is 30% on current income and will be paid in the first quarter of 2011. The pretax income of the company before adjustments is $18,270. Required: Journalize the necessary adjusting entries for the company at the end of 2010. Show supporting calculations in your journal entry explanation