Adjustment and additional data:

Accrued $$6,000$ for utilities and $$140,000$ for salaries.

Accrued $$6,200$ of interest on the bank loan.

Recorded annual depreciation on equipment, which has an expected useful life of eight years.

Carried out a physical inventory and determined that inventory with a cost of $$2,596,000$ was on hand in Retro Production's warehouse. The physical inventory correctly accounted for goods in transit and there were no goods on consignment.

After adjusting the inventory to the cost determined at the count of $$2,596,000,$ determined that some of this inventory had a net realizable value that was $$2,000$ lower than its cost.

Recorded an additional $$112,000$ of income tax payable.

Record the December adjusting entries. $($List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. Round answers to $0$ decimal places, e$.3\mathrm{.}5,275..)$