Selected accounts from Dec31, 2020 trial balance of Price Company are shown below. Inventory, Jan 1, 2020 $30,000 Sales Revenue $90,000 Purchases 40,000 Selling Expenses 14,000 Salaries Expense 5,000 Rent Expense 4,800 Administrative Expenses 8,000 Bad Debt Expense 500 Depreciation Expense-Building 1,500 Interest Expense 2.000 Dividends Distributed 2,100 In addition the following information is available. *The inventory value at Dec 31, 2020 is $18,000. *Employees weekly salaries of $1,200 are paid every Friday. Dec31 falls on a Wednesday, *On March 31, Price company purchased a 12-month insurance policy for $ 2,400. The purchase was debited to insurance Expense. *On Dec 1, the company paid a 2-month rent in advance. The $800 payment was debited to prepaid rent. * $150 of interest accrued as of December 31, 2020. Using a general Journal format, prepare: a. The required journal entries (where applicable). b. Therequired adjusting entries. c. The required closing entries for Price Company at Decemer 31. 2020