a) Prepare the adjusting entries on December 31 assuming that adjusting entries are made quarterly. b) Enter the trial balance on a worksheet and complete the worksheet. Rifat started his own consulting firm, RIFAT & Co. on October 01, 2020. The trial balance at December 31, 2020 is shown below: RIFAT & Co. Trial Balance December 31, 2020 Cash Rifat Capital Name of the Accounts Debit Taka Credit Taka 47,250 Accounts receivable 6,000 Supplies 2.000 Prepaid Insurance 3,000 Office Equipment 15.000 OC Office Furniture 10,000 Accounts Payable 4,500 acces Unearned Service Revenue 4.000 buca , 31.750 Rifat, drawings 2,000 Mortgage payable 40,000 Service Revenue 10.000 Salaries Expense 4,000 Rent Expense 1,000 Tk. 90,250 Tk. 90,250 Analysis reveals the following additional data: Supplies on hand at December 31, 2020 are Tk.800. (11) A utility bill for Tk. 200 has not been recorded and will not be paid until next month. (111) The insurance policy is for a year. The insurance policy was purchased on October 1, 2020. (iv) Unearned service revenue of Tk. 3,000 was earned at the end of December 31. (v) Salaries of Tk 2.500 are accrued on December 31, 2020. (vi) The office equipment has a 5-year life with no salvage value and office furniture has a 4-year life with a salvage value of Tk 2,000. Both the assets were purchased at October 1, 2020. (vii) Invoices representing Tk. 1,000 of services performed during the month have not been recorded as of December 31,2020. (viii) The mortgage interest rate is 10% per year. (The mortgage was taken out on October 1, 2020.)