Question 28 of 29 < The following are the trial balance and the other information related to Bruce Blue Spruce, who operates a construction hauling business. BLUE SPRUCE TRIAL BALANCE DECEMBER 31, 2020 Debit Credit Cash $35,500 Accounts Receivable 51,000 Allowance for Doubtful Accounts $2.350 Supplies 3,180 Prepaid Insurance 1,100 Equipment 30,000 Accumulated Depreciation-Equipment 4,750 Notes Payable 4,800 Owner's Capital 45.370 Service Revenue 107,750 Rent Expense 10,400 Salaries and Wages Expense 32,000 Utilities Expenses 1.060 Office Expense 780 $165,020 $165.020 1 Fees received in advance from clients $5.400, which were recorded as revenue 2 Services performed for clients that were not recorded by December 31, $5.300 3 Equipment is being depreciated at 8% per year. 4 Bad debt expense for the year is $1.350 5 Insurance expired during the year $580 6 Blue Spruce gave the bank a 90-day, 5% note for $4,500 on December 1, 2000 7 Rent of the building is $800 per month. The rent for 2020 has been paid, as has that for January 2001 8. Office salaries and wages earned but unpaid December 31, 2020, 51.550 Question 28 of 29 < > ) From the trial balance and other information given, prepare annual adjusting entries as of December 31, 2020. (Credit account titles are automatically indented when No. Account Titles and Explanation Debit Credit 2. Sew for Lane