Adventure Elements provides outdoor activities including ropes courses, rock climbing, and zip$-$lining. The company offers a unique experience for team building activities, camps for youth, and anyone seeking outdoor adventure.

The following is trial balance for the year ended March $31,2023.$

No$.$ Account Debit Credit

$201$ Accounts payable and accrued liabilities $ $3,200$

$103$ Accounts receivable $ $8,150$

$168$ Accumulated depreciation, equipment $10,200$

$300$ Becky Brenner, capital $41,750$

$301$ Becky Brenner, withdrawals $38,500$

$101$ Cash $12,650$

$194$ Copyright $8,050$

$167$ Equipment $39,200$

$633$ Insurance expense $2,170$

$623$ Interest expense $325$

$141$ Notes receivable, due January $1,202614,300$

$250$ Long$-$term notes payable $19,300$

$610$ Rent expense $9,400$

$402$ Revenues $93,175$

$126$ Supplies $580$

$637$ Supplies expense $1,930$

$652$ Telephone expense $2,520$

$203$ Unearned revenues $13,600$

$688$ Utilities expense $2,650$

$612$ Wages expense $40,800$

Totals $ $181,225$ $ $181,225$

The following is additional information that has not been included in the trial balance.

On April $2,$ you received the telephone bill for the month of March for $$650.$

On March $31,$ Adventure Element took a university student club zip$-$lining. An invoice had been sent to the student club for $$2,700$ due April $30.$

On March $31,$ the company held a teen$$s camp for $$2,360.$ All tickets had been prepaid two weeks in advance.

The equipment has an estimated useful life of $20$ years.

Use straight$-$line method for depreciating Equipment.

Required:

$1.$ Prepare the missing adjusting entries for transactions a$$d$.$

$2.$ Prepare an adjusted trial balance.

$3.$ Based on your adjusted trial balance, prepare the closing entries. Journalize the closing entries.