The following trial balance was taken from the books of Fisk Corporation on December 31, 2019.

Account Debit Credit

Cash 12,000

Accounts Receivable 40,000

Note Receivable 7,000

Inventory 50,000

Supplies 4,000

Prepaid Insurance 4,800

Furniture and Equipment. 125,000

Accumulated Depreciation of F. & E. 16,800

Accounts Payable 10,800

Common Stock 44,000

Retained Earnings 55,000

Sales 310,000

Cost of Goods Sold 131,000

Salaries Expense 50,000

Rent Expense 12,800

Totals 436,600 436,600

At year end, the following adjustments have not yet been recorded.

a. Insurance for the 12-month period beginning August 1 was paid in July and charged to Prepaid Insurance,

b. Note receivable was received on April 1 from a customer in payment of their account. The note bears interest at 8%.

c. $5,400 of rent for the 6-month period beginning December 1, 2019 was paid on December 1, 2019 and charged to rent expense.

d. Employees earn $7,250 per 5-day week and are paid each Friday. This year December 31 falls on a Thursday.

e. Depreciation on the furniture and equipment is calculated on a straight-line basis over 15 years with no residual value.

Prepare the necessary adjusting entries