4. Based on the following selected data, journalize the adjusting entries as of December 31, 20Y8 on page 23 of the journal: Estimated uncolectible accounts at December 31, $16,000, based on an aging of accounts receivable. The balance of Allowance for Doubtful Accounts at December 31 was $2,000 (debit). . The physical inventory on December 31 indicated an inventory shrinkage of $3,300. Prepaid insurance expired during the year, $22,820 Office supplies used during the year, $3,920 Depreciation is computed as follows: Residual Acquisition Useful Life Value Date in Years Depreciation Method Used Asset Buildings Office Equip 246,000 26,000 January 3 Store Equip. 12,000 12,000 July Cost 50 Double-declining-balance 5 Straight-line 0 Straight-line $900,000 so January 2 A patent costing $48,000 when acquired on January 2 has a remaining legal life of 10 years and is expected to have value for eight years. The cost of mineral rights was $546,000. Of the estimated deposit of 910,000 tons of ore, 50,000 tons were mined and sold during the year Vacation pay expense for December, $10,500 A product warranty was granted beginning December 1 and covering a one-year period. The estimated cost is 4% of sales, which totaled 1,900,000 in Decemmber Interest was accrued on the note receivable received on October 17. Assume a 360- day year