Part 1 - Adjusting Entries - 20 Points The following trial balance was taken from the books of Happy, Inc. on December 31, 2018. Debit Credit $ 9,000 50,000 1$ 1,800 44,000 4,800 110,000 15,000 10,000 Prepaid hisuana 4800 - 200 Account Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Prepaid Insurance Equipment Accum. Depreciation--Equip. Accounts Payable Notes Payable Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Salaries and Wages Expense Rent Expense Totals 10,000 2,000 34,000 75,000 260,000 126,000 50,000 12,000 $406.600 $406.600 At year end, the following items have not yet been recorded. r . At the end of the year, $2,000 of the insurance is still prepaid lerinin b. The equipment has a useful life of 11 years with no salvage value. Etiam dapet. Fo Interest on the note is 6%, and the note was signed on August 1, 2018. d. The rent expense was paid for one year on November 1, 2018. e. Accrued salaries and wages at December 31, $15,000. w por Instructions: Prepare the necessary adjusting entries. Use the separate answer sheet. The number of points for each entry follows the instructions