Rusthe Management Services began business on January 1, 2022, with a capital investment of $120,000. The company manages condominiums for owners (Service Revenue) and rents space in its own office building (Rent Revenue). The trial balance and adjusted trial balance columns of the worksheet at the end of the first year are as follows.

a. Prepare a classified balance sheet. $45,000 of the mortgage note payable is due for payment next year.
b. Journalize the adjusting entries.
c. Journalize the closing entries.
d. Prepare a post-closing trial balance.

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Account Titles Cash Accounts Receivable Prepaid Insurance Land Buildings Equipment Accounts Payable Unearned Rent Revenue Mortgage Payable Owner's Capital Owner's Drawings Service Revenue Rent Revenue Salaries and Wages Expense Advertising Expense Utilities Expense Totals Rusthe Management Services Worksheet For the Year Ended December 31, 2022 Insurance Expense Depreciation Expense Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Interest Expense Interest Payable Totals Trial Balance Dr. 13,800 28,300 3,600 67,000 127,000 59,000 22,000 42,000 20,500 19,000 402,200 Cr. 12,500 6,000 120,000 144,000 90,700 29,000 402,200 Adjusted Trial Balance Dr. 13,800 28,300 2,100 67,000 127,000 59,000 22,000 42,000 20,500 19,000 1,500 6,600 10,000 418,800 Cr. 12,500 1,000 120,000 144,000 90,700 34,000 3,000 3,600 10,000 418,800