Below are the transactions of the company in December 2022: Dec 1 2 3 I 2 Instructions (a) Journalize the December transactions. (b) Post the journal entries to the T-accounts. (c) Prepare an unadjusted trial balance at 31 December 2022. (d) Refer to the following information, journalize adjusting entries for the month of December 2022. 3. 4. 5. 6. 8. 9. Issued 1,000 shares of share capital in exchange for $10,000 cash Borrowed $11,000 from bank by issuing 6-month notes payable. Purchased office supplies that cost $500 with $230 cash and the balance on account. 7 Paid the dividend of $400 declared in October 2022 which become due on 7 December 2022 to shareholders. 10 Billed clients $3,560 for agency service performed, with $2,000 collected immediately by cash and the balance due in next month. 13 Received $2,000 from clients in advance for service to be conducted over the next few months. 17 Collected fees receivable of $5,800 from a client. 21 Issued a check in full payment of the office supplies purchased on 3 December. 26 Declared a dividend of $400 to be paid on 24 February 2023. 30 Paid December's salary expense of $1,790 and settled all salary payable outstanding. Records show that $4,200 of cash receipts originally recorded as Unearned agency fees had been earned as of 31 December. Office Equipment have a useful life of 10 years, to be depreciated using straight line method. The company had paid $2,160 cash on 1 April for an annual insurance policy effective April 1. The company had paid $3,000 cash on 1 September for a 6-month rent effective 1 September. Accrued but unpaid employee salaries were $3,150. A count shows $720 of supplies on hand at 31 December.. Agency services performed but unbilled and uncollected at 31 December were $8,300. The balance of notes payable represents a 6-month 6% note signed on 1 December 2022, with all interests and the balance to be settled on maturity The company's CPA estimates that income taxes expense for the year is $4,200. (e) Prepare an adjusted trial balance at 31 December 2022.

Below are the transactions of the company in December 2022: Dec I Issued 1,000 shares of share capital in exchange for $10,000 cash 2 Borrowed $11,000 from bank by issuing 6-month notes payable. 3 Purchased office supplies that cost $500 with $230 cash and the balance on account. 7 Paid the dividend of $400 declared in Oetober 2022 which become due on 7 December 2022 to shareholders. 10 Billed clients $3,560 for agency service performed, with $2,000 collected immediately by cash and the balance due in next month. 13. Received $2,000 from clients in advance for service to be conducted over the next few months. 17 Collected fees receivable of $5,800 from a client. 21 Issued a check in full payment of the office supplies purchased on 3 December. 26 Declared a dividend of $400 to be paid on 24 February 2023. 30 Paid December's salary expense of $1,790 and settled all salary payable outstanding. Instructions (a) Journalize the December transactions. (b) Post the journal entries to the T-accounts. (c) Prepare an unadjusted trial balance at 31 December 2022. (d) Refer to the following information, journalize adjusting entries for the month of December 2022. 1. Records show that $4,200 of cash receipts originally recorded as Unearned agency fees had been earned as of 31 December. 2. Office Equipment have a useful life of 10 years, to be depreciated using straight line method. 3. The company had paid $2,160 cash on 1 April for an annual insurance policy effective April 1. 4. The company had paid $3,000 cash on 1 September for a 6-month rent effective 1 September. 5. Accrued but unpaid employee salaries were $3,150. 6. A count shows $720 of supplies on hand at 31 December. 7. Agency services performed but unbilled and uncollected at 31 December were $8,300. 8. The balance of notes payable represents a 6 -month 6% note signed on 1 December 2022, with all interests and the balance to be settled on maturity 9. The company's CPA estimates that income taxes expense for the year is $4,200. New Education Agency is a business which provides coaching and consulting service to students, parents and institutions. Some clients pay in advance with payments credited to Unearned agency fees; others are billed after services have been performed