The following trial balance was taken from the books of XYZ Corporation on December 31, 2020.

Account Debit Credit

Cash $ 12,000

Accounts Receivable 40,000

Note Receivable 7,000

Allowance for Doubtful Accounts $ 1,800

Inventory 44,000

Prepaid Insurance 4,800

Equipment 105,000

Accumulated DepreciationEquip. 15,000

Accounts Payable 6 10,800

Share CopitalOrdinary 44,000

Retained Earnings 55,000

Sales Revenue 260,000

Cost of Goods Sold 111,000

Salaries and Wages Expense 50,000

Rent Expense 12,800

Totals $386,600 $386,600 0

+

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

a. Insurance expired during the year, $2,000.

b. Estimated bad debts, 1% of gross sales.

c. Depreciation on equipment, 10% per year.

d. Interest at 5% is receivable on the note for one full year.

*e. Rent paid in advance at December 31, $5,400 (originally charged to expense).

f. Accrued salaries and wages at December 31, $5,800

Prepare trial balance after closing entries.