A completed worksheet for The King Group is given below. Toc Statement Debit Credit Account Name Cash Recounts receivable Supplies Prepaid advertising Equipment Accumulated depreciation Equipment Accounts payable Deiva King, Capital Delve King, Drawing Tees incon Supplies expense Advertising expense Depreciation expense-Equipment salaries expense utilities expense Totals Net income Month Ended December 31, 201 Trial Balance Adjustments Balance Debit Credit Credit Det Credit 93,300 93.300 12,900 12.900 7.800 ta) 3.00 31.200 b) 3,900 27.100 32,500 22.500 c) 3,300 3.300 12.900 12,900 141.000 143,000 Balance Sheet Debit Credit 93.300 12.900 4,500 27,300 82.500 3,300 12.900 141.000 9.300 100.650 100.550 A 3.300 b) 3.900 (1), 300 100.650 3,300 3.900 3.700 15.300 2.250 10,500 257,856 257.150 15.300 2.250 254.550 254.550 3.300 3.900 1,300 15.300 2,250 28,050 10,500 100.650 229,500 157,200 72,600 229,900 100.650 100.650 229.00 Required: 1. Record the adjusting entries in the general journal (transactions 13) 2. Record the closing entries in the general journal transactions 4-7) 3. Post the adjusting entries and the closing entries to the general ledger accounts. Hint. Be sure to enter beginning balances Req 1 and 2 Reg 3 Reg 4 Analyze Record the adjusting entries and the closing entries in the general journal. View transaction list Journal entry worksheet 2 3 1 5 6 7 > Record the adjusting entry for supplies. Note: Enter debits before credits Date General Journal Debit Credit Dec 31, 20X1 Record entry Clear entry View.general Journal Req 1 and 2 Reg 3 Reg 4 Analyze Account No: 121 Post the adjusting entries and the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. Supplies Prepaid Advertising Account No: 131 Debit Credit Date Debit Credit Balance Dec 31, 20X1 Dec 31, 20X1 Dec 31, 20X1 Dec 31, 20X1 Date Balance Account No: 142 Account No: 301 Accumulated Depreciation- Equipment Date Debit Dec 31, 20X1 Credit Balance Credit Balance Delva King, Capital Date Debit Dec 31, 20X1 Dec 31, 20X1 Dec 31, 20X1 Account No: 302 Credit Balance Delva King, Drawing Date Debit Dec 31, 20X1 Dec 31, 20X1 Account No: 309 Credit Balance Income Summary Date Debit Dec 31, 20X1 Dec 31, 20X1 Dec 31, 20x1 Fees Income Date Debit nary Account No: 401 Credit Balance Salaries Expense Date Debit Account No: 511 Credit Balance na Delva King, Drawing Date Debit Dec 31, 20X1 Dec 31, 20X1 Account No: 302 Credit Balance Income Summary Date Debit Account No: 309 Credit Balance Dec 31, 20X1 Dec 31, 20X1 Dec 31, 20X1 Account No: 401 Credit Balance Fees Income Date Debit Dec 31, 20X1 Dec 31, 20X1 Account No: 511 Credit Balance Salaries Expense Date Debit Dec 31, 20X1 Dec 31, 20x1 Utilities Expense Date Debit Dec 31, 20X1 Dec 31, 20x1 Account No: 514 Credit Balance Account No: 517 Credit Balance Supplies Expense Date Debit Dec 31, 20X1 Dec 31, 20X1 Account No: 523 Account No: 526 Depreciation Expense Equipment Debit Dec 31, 20X1 Dec 31, 20X1 Credit Balance Advertising Expense Date Debit Dec 31, 20X1 Dec 31, 20X1 Credit Balance Reg 1 and 2 Reg 3 Reg 4 Analyze Prepare a postclosing trial balance. THE KING GROUP Postclosing Trial Balance December 31, 20X1 Account Name Dobit Credit Totals www. 1. Record the adjusting entries in the general journal (transactions 1-3). 2. Record the closing entries in the general journal (transactions 4-7). 3. Post the adjusting entries and the closing entries to the general ledger accounts. Hint Be sure to enter beginning balances. 4. Prepare a postclosing trial balance. Analyze: How many accounts are listed in the adjusted and postclosing trial balance section? Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Reg 4 Analyze How many accounts are listed in the adjusted and postclosing trial balance section? Adjusted trial balance Postclosing trial balance accounts accounts & Rega Analyse