Big Serve Racquet Club, Inc. Trial Balance at December 31, 2017 Unadjusted T/B Debit Adjustments Debit Adjusted T/B Debit Credit Credit Credit Account Cash Certificate of deposit Accounts receivable Inventory Supplies Prepaid insurance Land Buildings Equipment Accumulated depreciation Accounts payable Unearned revenue Notes payable Common stock Retained earnings Membership revenue Cost of sales Wages expense Utilities expense AJE# 50,300 8,000 63,000 170,000 5,000 1,200 100,000 400,000 100,000 85,000 198,000 6,000 120,000 276,500 98,000 674,000 395,000 110,000 55,000 Total 1,457,500 $1,457,500 Thc following additional information is provided: 1. Paid $1,200 on 3/31/2017 for a one-year fire insurance policy 2. Received S25,000 upon issuance of common stock. 3. Received a S6,000 payment on November 1, 2017 for a six month club membership 4. Borrowed $120,000 at 5% on October 1, 2017. Interest and principal are due on 4/1/19 5. According to payroll records, unpaid wages at year end totaled S15,000 6. Big Serve's building has a 10-year estimated useful life. The fixtures and equipment have a 5-year estimated 7. Big Serve purchased a six-month certificate of deposit (CD) on July 1, 2017. The interest rate was 3% Accrucd interest is added to the CD balancc 8Physical count of supplies on hand at 12/31/17 showed a balance of $3,600 9. Received a $1,800 bill for December utilities on January 3, 2018. 10. A physical count of inventory showcd a balancc of $172,000 11 Declared and paid a S15,000 dividend. 12 The tax rate was 21%