Exercise $12\mathrm{.}3($Static$)$ Preparing adjustments for uncollectible accounts, depreciation, and payroll items. LO $12-2$During the year $20$X$1,$ Aeryn Company had net credit sales of $$2,220,000.$ Past experience shows that $1\mathrm{.}5$ percent of the firms net credit sales result in uncollectible accounts.Equipment purchased by Moloney Consultancy for $$42,500$ on January $2,20$X$1,$ has an estimated useful life of $8$ years and an estimated salvage value of $$2,500.$ What adjustment for depreciation should be recorded on the firms worksheet for the year ended December $31,20$X$1?$On December $31,20$X$1,$ Fasano Music Studio owed wages of $$12,500$ to its employees, who are paid weekly.On December $31,20$X$1,$ Fasano Music Studio owed the employers social security $(6\mathrm{.}2$ percent$)$ and Medicare $(1\mathrm{.}45$ percent$)$ taxes on the entire $$12,500$ of accrued wages for its employees.On December $31,20$X$1,$ Fasano Music Studio owed federal $(0\mathrm{.}6$ percent$)$ and state $(5\mathrm{.}4$ percent$)$ unemployment taxes on the entire $$12,500$ of accrued wages for its employees.For each of the above independent situations, prepare the adjusting entries that must be made on the December $31,20$X$1,$ worksheet.Note: Round your answers to $2$ decimal places.