The following are the trial balance and the other information related to David Consulting Engineer. DAVID CONSULTING ENGINEER TRIAL BALANCE DECEMBER 31, 2020 Debit Credit Cash $29.500 Accounts Receivable 55,400 Allowance for Doubtful Accounts $798 Supplies 2,100 Prepaid Insurance 1,080 Equipment 32,400 Accumulated Depreciation-Equipment 6,561 Notes Payable 7,200 Common Stock 10,000 Retained Earnings 23,011 Service Revenue 116,664 Rent Expense 10,374 Salaries and Wages Expense- 30,880 Utilities Expenses 1,730 770 Office Expense $164,234 $164,234 1. 2. 3. Fees received in advance from clients $5,650, which were recorded as revenue. Services performed for clients that were not recorded by December 31, $4,894, Bad debt expense for the year is $1,429. Insurance expired during the year $433. Equipment is being depreciated at 10% per year. 4. 5. 6. David gave the bank a 90-day, 10% note for $7,200 on December 1, 2020. 7. Rent of the building is $798 per month. The rent for 2020 has been paid, as has that for January 2021, and recorded as