Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year$-$end is December $31.$ The unadjusted trial balance as of December $31,2024,$ appears below.

Account Title Debits Credits

Cash $ $35,800$

Accounts receivable $43,200$

Supplies $3,100$

Inventory $63,200$

Notes receivable $23,200$

Interest receivable $0$

Prepaid rent $2,600$

Prepaid insurance $9,200$

Office equipment $92,800$

Accumulated depreciation $ $34,800$

Accounts payable $34,200$

Salaries payable $0$

Notes payable $53,200$

Interest payable $0$

Deferred sales revenue $3,600$

Common stock $82,400$

Retained earnings $36,500$

Dividends $7,200$

Sales revenue $162,000$

Interest revenue $0$

Cost of goods sold $86,000$

Salaries expense $20,500$

Rent expense $12,600$

Depreciation expense $0$

Interest expense $0$

Supplies expense $2,700$

Insurance expense $0$

Advertising expense $4,600$

Totals $ $406,700$ $ $406,700$

Information necessary to prepare the year$-$end adjusting entries appears below.

Depreciation on the office equipment for the year is $$11,600.$

Employee salaries are paid twice a month, on the $22$nd for salaries earned from the $1$st through the $15$th$,$ and on the $7$th of the following month for salaries earned from the $16$th through the end of the month. Salaries earned from December $16$ through December $31,2024,$ were $$1,600.$

On October $1,2024,$ Pastina borrowed $$53,200$ from a local bank and signed a note. The note requires interest to be paid annually on September $30$ at $12\%.$ The principal is due in $10$ years.

On March $1,2024,$ the company lent a supplier $$23,200,$ and a note was signed requiring principal and interest at $8\%$ to be paid on February $28,2025.$

On April $1,2024,$ the company paid an insurance company $$9,200$ for a one$-$year fire insurance policy. The entire $$9,200$ was debited to prepaid insurance at the time of the payment.

$$950$ of supplies remained on hand on December $31,2024.$

The company received $$3,600$ from a customer in December for $1,550$ pounds of spaghetti to be delivered in January $2025.$ Pastina credited deferred sales revenue at the time cash was received.

On December $1,2024,$ $$2,600$ rent was paid to the owner of the building. The payment represented rent for December $2024$ and January $2025$ at $$1,300$ per month. The entire amount was debited to prepaid rent at the time of the payment.