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7/31/2020 Problem 3-05 (Part Level Submission) Print by: ACC-3700500:ACC-370-0500 / ACC-370 PRACTICE TOPIC 02 *Problem 3-05 (Part Level Submission) The accounts listed below appeared in the December 31 trial balance of the Coronado Theater. Debit Equipment $203,968 Accumulated Depreciation-Equipment Notes Payable Admissions Revenue Advertising Expense 14,510 Salaries and Wages Expense 59,220 Interest Expense 1,680 *(a) Credit $60,480 108,000 381,600 From the account balances listed above and the information given below, prepare the annual adjusting entries necessary on December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,250. ) (1) The equipment has an estimated life of 16 years and a salvage value of $23,056 at the end of that time. (Use straight-line method.) (2) The note payable is a 90day note given to the bank on October 20 and bearing interest at 8%. (Use 360 days for denominator.) (3) In December, 2,200 coupon admission books were sold at $30 each and recorded as Admissions Revenue. They could be used for admission any time after January 1. (4) Advertising expense paid in advance and included in Advertising Expense $1,138. (5) Salaries and wages accrued but unpaid $4,252. No. Account Titles and Explanation Debit Credit (1) l:::l :I: (2) |:] 12:: (3) :1 :2: \")1: E: (5):: :1: https://edugen.wileyplus.com/edugen/shared/assignment/test/qprint.uni Attempts: 0 of 3 used 1/2