Problem 3-5 The accounts listed below appeared in the December 31 trial balance of the Sage Theater. Debit Credit Equipment Accumulated Depreciation-Equipment Notes Payable Admissions Revenue Advertising Expense Salaries and Wages Expense Interest Expense $203,744 $62,320 108,000 387,500 14,300 57,540 1,680 From the account balances isted above and te itomnation given below. prepare te annual asusting entres necessary on December 31 Credit account uties are automatea y ndented when 1mountls entered. Do not Indent manually, Ir no entry is required, select"No entry" for the account tities and enter&for the amounts. Round answers to O decimal places, e.g. 5,250.) (1) The equipment has an estimated Iife of 16 years and a salvage value of $23,968 at the end of hat time. (Use straight-ine method.) (2) The note payable is a 90day note given to the bank on October 20 and bearing interest at 8%. (Use 360 days for denominator.) ) In December, 2,170 coupon a mission books were sod at0 each and recorded as Admissions Revenue. They oold be used tor admisson any time ater January 1 (4) Advertising expense paid in advance and included in Advertising Expense $1,109 (5) Selaries and wages accrued but unpaid $4,989 No. Account Titles and Explanation Debit Credit What amounts should be shown for each of the following on the income statement for the year? (1) Interest Expense (2) Admissions Revenue (3) Advertising Expense (4) Salaries and Wages Expense