Milwaukee Corp. prepared its unadjusted trial balance dated December 31 as follows. Additional information for accounting adjustments 1. Equipment has a total estimated useful life of 14 years and an estimated residual value of $80,000. Milwaukee Corp. uses straight-line depreciation and accounts for depreciation expense as a general and administrative expense. 2. The company estimates an increase in Allowance for Doubtful Accounts of $9,000 is required to recognize accounts receivable of $60,000 at the net amount expected to be collected. 3. The note payable requires 8% interest to be paid semiannually, every October 1 and April 1. 4. $5,000 of salaries were earned in December but not recorded or paid. 5. Internet expense represents a payment made on January 2 for two years of internet services (this year and next year). 6. Insurance expense represents payment made for a one-year policy, paid June 30 . Coverage begins on that date. 7. Subscription revenue represents cash received for a one-and-one-half-year subscription to a journal published by Milwaukee Corp. The subscription period begins July 1 . \begin{tabular}{|l|l|l|l|l|} \hline Date & Accounts/Description & & & \multicolumn{1}{|c|}{ Credit } \\ \hline & Adjusting Entries & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & \\ \hline \end{tabular} Unadjusted Trial Balance December 31 Acc. No. Description \begin{tabular}{|l|l|} \hline Debit & Credit \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline & \\ \hline 5 & \\ \hline \end{tabular}