The following trial balance was taken from the books of Fisk Corporation on December 31, 2020. Account Cash Debit Credit $ 9,000 Accounts Receivable Allowance for Doubtful Accounts Inventory Prepaid Insurance Equipment Accumulated Depreciation-Equipment 50,000 $ 1,800 44,000 4,800 110,000 15,000 Accounts Payable 10,800 Common Stock 44,000 Retained Earnings 55,000 Sales Revenue 280,000 Cost of Goods Sold 126,000 Salaries and Wages Expense 50,000 Rent Expense 12.800 Totals $406,600 $406,600 At year end, the following items have not yet been recorded. 1. The prepaid insurance represents a 1-year policy that was purchased on September 1, 2020. 2. Depreciation on equipment is recorded at 10% per year on original cost. 3. During the year, all rent paid was charged to Rent Expense. At year end $5,400 was paid in advance. 4. Salaries and wages earned but not yet paid at December 31, total $5,800. 5. Estimated bad debts are recorded at 1% of gross sales. Prepare the necessary adjusting entries for the year