The following trial balance was taken from the books of Kaslo Corporation at December 31, 2020: Account Debit Credit Cash.... Accounts Receivable. Note Receivable...... Allowance for Doubtful Accounts. Merchandise Inventory. Unexpired Insurance... Furniture and Equipment.. Accumulated Depreciation Accounts Payable Common Shares Retained Earnings Sales .... Cost of Goods Sold Salaries Expense Rent Expense. Totals $ 40,000 108,000 8,000 $ 1,800 54,000 4,800 138,000 15,000 10.800 44,000 65,000 410,000 128,000 53,000 12,800 $ 546,600 $ 546,600 At year end, the following items have not yet been recorded. 1. Insurance expired during the year, $3,000. 2. Estimated bad debts, 1 percent of gross sales. 3. Depreciation on furniture and equipment, 10% per year. 4. Interest at 9% is receivable on the note for one full year. 5. Rent paid in advance at December 31, $ 6,800 (originally debited to expense). Retained Earnings....... Sales ...... Cost of Goods Sold Salaries Expense.. Rent Expense. Totals ..... 65,0 410,0 128,000 53,000 12.800 $ 546,600 $ 546,6 At year end, the following items have not yet been recorded. 1. Insurance expired during the year, $ 3,000. 2. Estimated bad debts, 1 percent of gross sales. 3. Depreciation on furniture and equipment, 10% per year. 4. Interest at 9% is receivable on the note for one full year. 5. Rent paid in advance at December 31, $ 6,800 (originally debited to expense). 6. Accrued salaries at December 31, $ 6,200. Required: Prepare the necessary adjusting entries