2. The Cutlery's August 31, 2017, unadjusted trial balance appeared as follows- The following additional information is available for the month just ended: a. Depreciation of $100 per month will be taken on the furniture b. It is estimated that the store- equipment will have a $1,000 value at the end of its estimated five-year (or 60 -month) useful life. Joanne will record a full month of depreciation for August. Dep. Expense =31,0001,000,60=500 c. It was determined that the balance in uneamed service revenue at August 31 should be $420 d. The prepaid insurance represents six months of Insurance beginning August 1 . e. On August 31, The Cutlery provided $130 of services to a client who will pay in September. f. On August 31, Joanne received the business' August cell phone bill totalling $50. It will be paid in September. Required 1. Prepare the adjusting entries needed on August 31, 2017, to record the previously unrecorded items. 2. Prepare T-Accounts for accounts affected by the adjusting entries. Post the adjusting entries to the T-Accounts. 3. Prepare a adjusted trial balance 4. Prepare a income statement of changes in equity, and a balance sheet