Prepare each adjusting entry for each of the following:

A.) During the year, $10,000 was received in advance from clients for services that have not yet been performed. This was recorded as service revenue.

B.) Bad debt expense for the year is $15,000.

C.) Prepaid insurance expired during the year $500.

D.) Equipment is being depreciated at 20% per year. No depreciation was recorded during the year.

E.) Hexagon borrowed $82,200 via a 90-day, 5% bank note on December 1, 2020. No interest has been recorded.

F.) Office salaries and wages earned but unpaid December 31, 2021; $3,400.

G.) Dividends of $25,000 were declared in the month of December. This has not been accounted for yet.

H.) $450 of supplies remain at the end of the year.

Prepare closing entries necessary to close temporary accounts at the end of the year: