Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted trial balance as of December 31, 2018, appears below. December 31 is the company's fiscal year-end. Credits Debits $ 8,900 8,100 1,300 5.520 69,000 $ 9,200 6,300 Accounts Cash Accounts Receivable Supplies Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Utilities Payable Notes Payable Common Stock Retained Earnings Service Revenue Salaries Expense Interest Expense Rent Expense Supplies Expense Utilities Expense Depreciation Expense 13,000 31,000 12,000 46,120 23,100 1.700 Supplies Expense Utilities Expense Depreciation Expense 1,700 Totals $117,620 $117,620 Information necessary to prepare the year-end adjusting entries appears below. a. Depreciation of equipment for the year is $4,600. b. Accrued salaries at year-end should be $1,400. c. Crimson Tide borrows $13,000 on September 1, 2018. The principal is due to be repaid in four years. Interest is payable each August 31 at an annual rate of 9% d. Unused supplies at year-end total $560. Crimson Tide debits Supplies at the time supplies are purchased. e. Crimson Tide opens a second studio by paying for one year of rent in advance on April 1, 2018, for $5,520 ($460 per month) debiting Prepaid Rent. 1. Unpaid utilities for December total $300. Record the necessary adjusting entries on December 31, 2018. (If no entry is required for a particular transaction/event, select " journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 Record the adjustment for depreciation. Note: Enter debits before credits Transaction General Journal Debit Credit