Adventure Elements provides outdoor activities including ropes courses, rock climbing, and zip-lining. The company offers a unique experience for team building activities, camps for youth, and anyone seeking outdoor adventure. The following is trial balance for the year ended March 31, 2020 No. 201 103 168 360 301 101 194 167 633 623 141 25e 610 402 126 637 652 203 Account Accounts payable and accrued liabilities Accounts receivable Accumulated depreciation, equipment Becky Brenner, capital Becky Brenner, withdrawals Cash Copyright Equipment Insurance expense Interest expense Notes receivable, due January 1, 2023 Long-term notes payable Rent expense Revenues Supplies Supplies expense Telephone expense Unearned revenues Utilities expense Wages expense Totals Debit Credit $ 3,150 $ 7,550 8,650 41,550 35,800 11,680 10,500 33,000 2,320 GD 15,700 27,000 12,150 81,475 325 2,540 2,950 12,300 2,850 36,400 $174,125 $174,125 688 612 warem 4 - Ch 4 Help Save & EX The following is additional information that has not been included in the trial balance, a. On April 2, you received the telephone bill for the month of March for $580. b. On March 31, Adventure Element took a university student club zip-lining. An invoice had been sent to the student club for $3,200 due April 30. c. On March 31, the company held a teen's camp for $2,480. All tickets had been prepaid two weeks in advance. d. The equipment has an estimated useful life of 20 years, Use straight line method for depreciating Equipment Required: 1. Prepare the missing adjusting entries for transactions a-d. View transaction list Journal entry worksheet 1 2 3 4 Record the accrual of telephone expense. Note: Enter debits before credits taunchu httpsk PX252.meducation.com 52mghriddle ssignment 4 Ch 4 Help 2. Prepare an adjusted trial balance. 1 Debit Credit nts Skipped Print erences Acct. No Account 101 Cash 103 Accounts receivable 126 Supplies 141 Notes receivable, due January 1, 2023 167 Equipment 168 Accumulated depreciation, equipment 194 Copyright 201 Accounts payable 203 Unearned revenues 250 Long-term notes payable 300 Becky Brenner, capital 301 Becky Brenner withdrawals 402 Revenues 606 Depreciation expense, equipment 610 Rent expense 612 Wages expense 103 126 141 167 168 194 201 203 250 300 301 Accounts receivable Supplies Notes receivable, due January 1, 2023 Equipment Accumulated depreciation, equipment Copyright Accounts payable Unearned revenues Long-term notes payable Becky Brenner, capital Becky Brenner, withdrawals Revenues Depreciation expense, equipment Rent expense Wages expense Interest expense Insurance expense Supplies expense Telephone expense Utilities expense Totals 402 606 610 612 623 633 637 652 688 $ 0 $ 0 pindex.html con contexternal browser och 25 %252Fm.meducation.com%252mghmid ent 4 - Ch 4 3. Based on your adjusted trial balance, prepare the closing entries. Journalize the closing entries. View transaction list Journal entry worksheet 1 2 3 4 Record closing of revenue to the income summary. Note: Enter debits before credits Debit Credit General Journal Date Mar 31, 2020