BALANCE SHEET AS OF 12/31/2018 ASSET 101 CASH 12,200 120 ACCOUNTS RECEIVABLE 8,500 125 ALLOWANCE FOR DOUBTFUL ACCOUNTS (600) 130 INVENTORY 14,000 150 OFFICE SUPPLIES 1,200 180 PREPAID RENT 2,400 230 OFFICE EQUIPMENT 8,500 235 ACCUMULATED DEPRECIATION OFFICE EQUIPMENT (850) TOTAL ASSETS 45,350 LIABILITIES 310 ACCOUNTS PAYABLE 6,500 STOCKHOLDER EQUITY 450 COMMON STOCK 30,000 460 RETAINED EARNINGS 8,850 TOTAL LIABILITIES AND STOCKHOLDER EQUITY 45,350 4. Prepare adjusting entries via the General Journal for January 31, 2019 (you might need to reference your Financial Accounting textbook for some assistance on this): a. Prepaid rent represents Jan, Feb, and Mar rent. b. Office equipment is Straight line, 10 year life no salvage