The trial balance for Computer Guru Consulting Ltd$.,$ on $31$ December $20$X$2,$ for the $20$X$2$ fiscal year. No adjustments have been made in $20$X$2.$

Cash $ $12,000$

Accounts receivable $19,600$

Allowance for doubtful accounts $ $720$

Inventory $104,290$

Equipment $169,820$

Accumulated depreciation, equipment $26,790$

Accounts payable $83,250$

Unearned revenue $13,260$

Note payable $101,000$

Common shares $43,010$

Retained earnings $103,210$

Dividends $20,000$

Sales $913,980$

Cost of goods sold $623,680$

Wages $210,770$

Operating expenses $75,050$

Sales salaries $50,010$

Other information:

The note payable had an interest rate of $6\%.$ $$57,000$ was borrowed on $1$ February, and the balance was borrowed on $1$ June $20$X$2.$ No interest was paid in $20$X$2.$

An inventory count showed that goods with a cost of $$101,660$ were on hand at the end of the year.

Operating expenses include an insurance policy that was effective on $1$ January $20$X$2$ and runs for three years. The policy cost $$6,240.$

An unpaid supplier invoice for heating oil for $$4,160$ has been recorded for $$7,280$ in error.

A customer paid a $$10,400$ down payment on a job in December; this amount was credited to unearned revenue. The job is about $50\%$ complete but has not been finished or reviewed with the customer. The remaining $$3,700$ in unearned revenue is an advance from a customer, for a job that has been cancelled; this amount will be refunded to the customer shortly.

Depreciation on equipment has not yet been recorded. The equipment is three years old at the end of $20$X$2,$ and estimates of useful life and salvage value have not changed since it was acquired. Depreciation is recorded on a straight$-$line basis.

A review of invoices sent to customers in January $20$X$3$ showed that sales of $$50,790$ actually took place in December. These sales were connected with goods that cost $$16,550.$ The product had been physically removed from inventory in December, and inventory and cost of sales were properly recorded in December. Sales were not recorded until January.

A review of invoices and payments in early January $20$X$3$ showed some expenses that were related to December but not recorded until January: operating expenses, $$7,010,$ and sales salaries, $$5,180.$

A payment for business operating expenses was made by one of the shareholders in $20$X$2,$ and he then submitted the $$15,440$ invoice for payment. When he was reimbursed, the amount was debited to dividends.

Accounts receivable were reviewed, and it was determined that $$8,040$ of accounts receivable are unlikely to be collected, although the company is still making collection attempts. $($Percentage of accounts receivable method is used by the company.$)$

Required:

$1.$ Record adjusting entries, as needed, for the additional information provided above. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Do not round your intermediate calculations.$)$