See the spreadsheet for P3-24 and below. The spreadsheet provides the balances in Takhini Inc.'s accounts on December 31, 2017, before and after the adjusting entries have been made.

Required:
Reconstruct the adjusting entries that were made to Takhini Inc.'s spreadsheet on December 31, 2017.
Forp3.24

Assets Liabilities For P3-24. Transaction Balance before adjusting entries Balance after adjusting entries Royalty revenue Prepaid Property, plant, Accumulated Accounts Unearned Wages payable revenue payable Cash receivable rent and equipment depreciation $3,000 $0,000 $8,000 14,000 0 $52,000 $0 ($14,000) $52,000 $10,000 $1,000 $40,000 ($22,000) S8,000 $6,000 $4,000