8. The following is Ortega Limo Service Ltd.'s unadjusted trial balance at its year end, December 31, 2021. The company adjusts its accounts annually. Debit Credit Cash $4,600 Accounts receivable 8,220 Supplies 2,500 Prepaid insurance 3,600 Prepaid rent 2.300 Vehicles 58.000 Accumulated depreciation-vehicles $ 14,500 Furniture 16,000 Accumulated depreciation-furniture 4,000 Deferred revenue 3,600 Bank loan payable, due September 1, 2024 27,475 Common shares 5,000 Retained earnings 7,600 Dividends declared 3,800 Service revenue 125,600 67,000 Salaries expense Rent expense Repairs and maintenance expense Interest expense 12,650 4,690 2,415 Income tax expense 2,000 $187,775 $187,775 Additional information: 1. The insurance policy has a one-year term beginning March 1, 2021. At that time, a premium of $3,600 was paid. 2. A physical count of supplies at December 31 shows $570 of supplies on hand. 3. The vehicles were purchased on January 2, 2020, and have an estimated useful life of four years. The company uses straight-line depreciation. 4. The furniture was purchased on July 2, 2018, and has an estimated useful life of 10 years. 5. Service revenue earned but not billed or recorded at December 31 is $1,750. 6. Interest on the 7% bank loan is paid on the first day of each following quarter (January 1, April 1, July 1, and October 1) and was last paid on October 1. 7. One of Ortega's customers paid $3.600 in advance for a six-month contract at the rate of $600 per month. The contract began on November 1 and Ortega credited Deferred Revenue at the time. 8. Drivers' salaries total $200 per day. At December 31, three days of salaries are unpaid. 9. On December 1, Ortega paid $2,300 ($1,150 per month) for the December 2021 and January 2022 rent in advance. 10. Income tax for the year is estimated to be $2,850. The company has paid $2.000 in income tax instalments to date Instructions 1. Prepare the adjusting journal entries required at December 31 2. Set up T accounts, enter any opening balances, and post the December adjusting entries. 3. Prepare an adjusted trial balance at December 31