The accounts listed below appeared in the December 31 trial balance of the Nash Theater. Debit Credit Equipment $195,392 Accumulated Depreciation-Equipment $62,040 Notes Payable 108,000 Admissions Revenue 386,200 Advertising Expense 15,120 Salaries and Wages Expense 59,130 Interest Expense 1,680 (a) From the account balances listed above and the information given below, prepare the annual adjusting entries necessary on December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) (1) The equipment has an estimated life of 16 years and a salvage value of $22,592 at the end of that time. (Use straight-line method.) (2) The note payable is a 90-day note given to the bank October 20 and bearing interest at 8%. (Use 360 days for denominator.)