The following trial balance was taken from the books of Venus Corporation at December 31, 2020: Account Debit Credit Cash.......... $ 40,000 Accounts Receivable...... 106,000 Prepaid Rent ........ 12,800 Note Receivable ..... 8,000 Merchandise Inventory 54,000 Unexpired Insurance 4,800 Furniture and Equipment 138,000 Accumulated Depreciation.. 15,000 Accounts Payable.... 12,600 Common Shares ........ 44,000 Retained Earnings 65,000 Sales ........... 410,000 Cost of Goods Sold. 128,000 Salaries Expense 53,000 Totals........ $ 546,600 $ 546,600 At year end, the following items have not yet been recorded. 1. Insurance expired during the year, $ 2,000. 2. Depreciation on furniture and equipment, 10% of the cost per year. 3. Interest at 9% is receivable on the note for one full year. 4. Prepaid rent used up during the year, $6,000. 5. Accrued salaries at December 31, $6,200. Instructions Prepare in good form the necessary adjusting entries, adding any new accounts which you may need. Narratives (explanations) are not required for journal entries. (10 marks) a) b) Prepare the necessary closing entries. (6 marks)