Make adjustments based on the new information given

CR. Downtown Cabinet Company Trial Balance 11/30/20XX Cumulative for 20XX DR. Cash 1140 Notes Receivable 16000 Accounts Receivable 41000 Merchandise Inventory 40000 Prepaid Insurance 960 Furniture and Equipment 67000 Accumulated Dep. - furniture and Equp. Notes Payable Accounts Payable Bonds Payable Common Stock Retained Earnings 1/1/2016 Dividends 2000 Sales Cost of Goods Sold 316000 Sales Salaries Expense 20000 Advertising Expense 2200 Traveling Expense 8000 Salaries, office and general 19000 Telephone and Internet Expense 2600 Rent Expense 4800 Property Tax Expense 3300 Interest Expense 1700 Totals 545700 12000 20000 17500 30000 50000 16200 400000 545700 Adjustments to the Trial Balance at 11/30/20XX 1. Estimated bad debts is one-half of 1 percent of sales 2. Insurance expired for the month of November - $480 3. Interest accrued on notes receivable for the month of November - $725 4. Downtown Cabinet Company purchased 10 computers for $15,000 on a no interest 5 year loan. Record this purchase and one loan payment was paid in the month of November. 5. The accounting department discovered an overpayment of rent in the amount of $1,000 6. Property taxes accrued for the month of November should be at $5,000 7. Income taxes are estimated to be 22% of net income