Preparing Adjusting Journal Entries Rivers Corp., which sponsors river tours, adjusts and closes it accounts each December 31 . The following situations require adjusting entries at the current year-end. 1. Equipment is to be depreciated for the full year: cost is $225,000, and the estimated useful life is five years. 7. Salaries earned from December 29 through 31 of this year, but not yet recorded or paid, are $24,000. 8. Interest expense of $2,000 incurred, but not yet recorded, for November and December of this year will not be paid until April 30 of next year. Prepare the necessary adjusting journal entries on December 31 for each situation. Assume that no adjusting journal entries were recorded during the year prior to year-end. Note: Round your answers to the nearest whole dollar. For example, enter 50 for 50.49 and enter 51 for 50.5