The Salem Bread Company produces and sells various bakery products to restaurants. The company's fiscal year-end is December 31. The unadjusted trial balance as of December 31, 2016, appear below. Information necessary to prepare the year-end adjusting entries appears below. Depreciation on the equipment for the year is $22,000. Salaries and wages payable at the end of the month should be $7,000. On April 1, 2016, Salem borrowed $50,000 from a local bank and signed a note. The note requires interest to be paid annually on March 31 at 8%. The principal is due in 5 years. $1,000 of supplies remained on hand at December 31, 2016. In November, a customer paid Salem $3,000 for an order that was delivered in December. The cash received was credited to deferred revenue. No other customer advances were received during the year. On December 1, 2016, $4,000 rent was paid to the owner of the building. The payment represented rent for December through March 2017, at $1,000 per month. Prepare the necessary December 31, 2016, adjusting journal entries