Problem Two - Prepare the adjusting entries for this company - 20 points Selected amounts from Capitol Company's trial balance of 12/31/21 appear below: 1. Accounts Payable $ 160,000 2. Accounts Receivable 150,000 3. Accumulated Depreciation-Equipment 200,000 4. Allowance for Doubtful Accounts 20,000 5. Bonds Payable 500,000 6. Cash 150,000 7. Common Stock 60,000 8. Equipment 870,000 9. Prepaid Insurance 30,000 10 Interest Expense 11 Inventory 12. Notes Payable (due 8/1/18) 13 Prepaid Rent 14 Retained Earnings 15. Salaries and Wages Expense 10 000 300.000 200.000 240 000 818.000 328.000 (All of the above accounts have their standard or normal debitor credit balance) Prepare adjusting journal entries at year end, December 31, 2021 based on the following supplementat information. And present your calculations to arrive at your answers as they are considered in the punctuation of each journal entry (20 points) a. The equipment has a useful life of 5 years with no salvage value (Straight-line method being used.) b. Interest accrued on the bonds payable is $10,000 as of 12/31/21 Prepaid insurance during 36 months, paid in April 1.2021 d The rent payment of $240,000 covered 24 months paid in March 1, 2021 e Salaries and wages earned but unpaid at 12/31/21, $22,000. f Utilities expenses but unpaid at 12/31/21. $14.000 g Services performed for clients, but unbilled for $100,000 h. Income taxes for 2021 was $35.000