Presented below is the December 31 trial balance of Juno Beach Clothing, Inc. Juno Beach Clothing Trial Balance December 31 Debit Credit Cash $23,850 Accounts Receivable 16,000 Allowance for Bad Debt $600 Inventory, December 31 73,600 Equipment 60,000 Accumulated Depreciation Equipment 26,000 Prepaid Advertising 26,700 Prepaid Insurance 5,200 Supplies 4,200 Notes Payable 21,000 Accounts Payable 18,400 Common Stock 10,000 Retained Earnings 76,550 Sales Revenue 397,300 Cost of Goods Sold 204,150 Salaries and Wage Expense (sales) 56,850 Salaries and Wage Expense (administrative) 79,300 $549,850 $549,850 The books are closed yearly on December 31. Additional information is provided below: 1. Bad debt expense is estimated to be $1,600. 2. Equipment is depreciated based on an 8year life (no salvage value). 3. Insurance expired during the year $3,650. 4. Interest accrued on notes payable $2,050. 5. Sales salaries and wages earned but not paid $2,750. 6. Advertising paid in advance, but not used up by the end of the year $1,100. 7. Office supplies on hand are $1,500 at the end of the year. Prepare the necessary adjusting entries and an adjusted trial balance.