Comprehensive Problem 3 Part 4: Note: You must complete parts 1, 2, and 3 before completing part 4 of this comprehensive problem. Based on the following selected data, journalize the adjusting entries as of December 31 of the current year. If no entry is required, select "No entry required" from the dropdown and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. a. Estimated uncollectible 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). Date Description Dec. 31 Debit Credit b. The physical inventory on December 31 indicated an inventory shrinkage of $3,300. Date Description Dec. 31 Debit Credit c. Prepaid insurance expired during the year, $22,820. Date Dec. 31 Description Debit Credit d. Office supplies used during the year, $3,920. Date Description Dec. 31 Debit Credit Asset Cost Value Date in Years Buildings Office Equip. Store Equip. $900,000 246,000 112,000 $ 0 January 2 50 Residual Acquisition Useful Life Depreciation Method Used Double-declining-balance 26,000 January 3 12,000 July 1 5 10 Straight-line Straight-line Date Description Debit Credit Dec. 31 f. 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 8 years. Date Description Dec. 31 Debit Credit g. 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. Date Description Dec. 31 Debit Credit h. Vacation pay expense for December, $10,500. Date Description Dec. 31 Debit Credit f. 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 8 years. Date Description Dec. 31 Debit Credit g. 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. Date Description Dec. 31 Debit Credit h. Vacation pay expense for December, $10,500. Date Description Dec. 31 Debit Credit i. 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 December. Date Description Dec. 31 Debit Credit j. Interest was accrued on the note receivable received on October 17 ($100,000, 90-day, 9% note). Assume 360 days per year. Date Description Dec. 31 Debit Credit