The following are the trial balance and the other information related to Bruce Marigold, who operates a construction hauling business.MARIGOLDTRIAL BALANCEDECEMBER $31,2020$DebitCreditCash$$39,000$Accounts Receivable$48,400$Allowance for Doubtful Accounts$$3,400$Supplies$3,040$Prepaid Insurance$1,200$Equipment$30,000$Accumulated DepreciationEquipment$5,750$Notes Payable$7,200$Owners Capital$45,640$Service Revenue$97,790$Rent Expense$7,800$Salaries and Wages Expense$28,400$Utilities Expenses$1,040$Office Expense$900$ $$159,780$$$159,7801.$Fees received in advance from clients $$5,100,$ which were recorded as revenue$\mathrm{.}2.$Services performed for clients that were not recorded by December $31,$ $$5,000\mathrm{.}3.$Equipment is being depreciated at $8\%$ per year$\mathrm{.}4.$Bad debt expense for the year is $$1,470\mathrm{.}5.$Insurance expired during the year $$520\mathrm{.}6.$Marigold gave the bank a $90-$day, $5\%$ note for $$7,200$ on December $1,2020\mathrm{.}7.$Rent of the building is $$600$ per month. The rent for $2020$ has been paid, as has that for January $2021\mathrm{.}8.$Office salaries and wages earned but unpaid December $31,2020,$ $$1,540.$Marigold withdrew $$15,000$ cash for personal use during the year.$($From the trial balance and other information given, prepare annual adjusting entries as of December $31,2020.($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 $0$ for the amounts. Use $360$ days for calculation.$)$