3:541 Solve the following problems by providing what is asked for each one. Problem 1 Shown below is the trial balance for Dunbar Corporation as at June 30, 2017, the company's year end. The company owner provides you with the following additional information No interest has been paid yet on the note payable. The note has been outstanding since April 1 and the interest rate is 12%. The equipment originally cost $200,000 and has an estimated residual value of $10,000 and a useful life of 10 years. On June 1 the company renewed its insurance policy and paid a $1,800 premium for the year. It was correctly recorded at that time as prepaid insurance. . On October 1, 2016 the company sold a 12-month service contract to a client for $200,000 and recorded it as Unearned Revenue because at that point they had not yet provided any service to the client. DUNBAR CORPORATION TRIAL BALANCE AS AT JUNE 30, 2017 8.900 28,000 1,200 100,000 Cash Accounts receivable Prepaid insurance Equpment Accumulated amortization Accousts payable Note payable Unearned reven 6,000 12,000 20,000 18,000 3:54 nsurance On October 1, 2016 the company sold a 12-month service contract to a client for $200,000 and recorded it as Unearned Revenue because at that point they had not yet provided any service to the client. DUNBAR CORPORATION TRIAL BALANCE AS AT JUNE 30, 2017 8.900 28,000 1,200 Cash Accounts receivable Prepaid insurance Accumulated amortization Accounts payable Note payable Unearned revenues Common shares Retained earnings Sales & service revenue Salaries Rent Supplies expense 6,000 12,000 20,000 18,000 10,000 6,700 240,000 120,000 24.000 29,500 Insurance expense Intere st expense TOTAL 1,100 Required Prepare any adjusting entries required