The unadjusted trial balance of Tamarisk inc. a private company following ASPE, at December 31,2023 , is as follows: 1. Actual rent costs amounted to $1,360 per month. The company has already paid for rent for the first quarter of 2024 . 2. The building was purchased and occupied on January 1, 2021, with an estimated useful life of 10 years, and residual value of $30,900. (The company uses straight-line depreciation.) 3. Prepaid insurance contains the premium costs of several policies, including Policy A, cost of $2,664, one-year term, taken out on April 1, 2023; and Policy B, cost of $2,016, three-year term, taken out on September 1, 2023. 4. A portion of Tamarisk's building has been converted into a snack bar that has been rented to the Flint Corporation since July 1.2022, at a rate of $7,050 per year payable each July 1 in advance. 5. One of the company's customers declared bankruptcy on December 30,2023 . It is now certain that the $2,600 the customer owes will never be collected. This fact has not been recorded. In addition, Tamarisk estimates that 3% of the Accounts Receivable balance on December 31,2023 , will become uncollectible. 6. An advance of $700 to a salesperson on December 31, 2023, was charged to Salaries and Wages Expense. 7. On November 1,2021, Tamarisk issued 168$1,000 bonds at par value. Interest is paid semi-annually on April 30 and October 31 8. The equipment was purchased on January 1, 2021, with an estimated useful life of 12 years, and no residual value. (The company uses straight-line depreciation.) 9. On August 1, 2023, Tamarisk purchased at par value 42 $1,200,7% bonds maturing on July 31,2025 , Interest is pald on July 31 and January 31. 10. The inventory on hand at December 31,2023 , was $91,000 after a physical inventory count. Prepare adjusting and correcting entries for December 31,2023 , using the information given. Record the adjusting entry for inventory using a Cost of Goods Sold account, (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter Of for the amounts) TTh ramord hart dehts exnense.)