Bonus homework 2: The following are the trial balance and other information related to Hills Corp. Account Title Unadjusted Adjustments Adjusted Adjusting Journal Entries Requirement: DEBIT CREDIT ll DEBIT it CREDIT DEBIT CREDIT it Account 1 DEBIT CREDIT Cash 3 25.550 Accounts receivable 49,600 Allowance for Doubtful Accounts Prepaid insurance 1 ,100 __prepaid rent 1,950 Supplies 1,960 Equipment 25,000 Accum deprec - equip 6,250 Wages payable - Note payable 7,200 Interest payable - Common stock 25,010 Retained earnings 10,000 Dividends 2,000 Service revenue 100,000 Bad debt expense - Wage expense 30,500 Rent expense 9,750 Depreciation expense - Insurance expense - Interest expense - Ofce expense 720 Utilities expense 1,080 Totals jgggjg 149,210 1. Services performed for clients that were not recorded by 12/31, $4,900 2. Bad debt expense for the year is estimated as $1,430 3. Insurance expired for the year is $480 4. Equipment is being depreciated at 10% per year 5. Hills corp issues a 90-day note payble for $7200 on 12/1/2019, the annual interest rate is 10% 6. Rent ofthe building is $975 per month. The rent for 2019 has been recorded as rent expense until 10/31/2019. 7. Employees salaries earned but unpaid December 31, 2019, $2510 1. From the trial halanoe and other information provided, prepare annual adjusting entries as of 12/31/2019. (omit explanations) 2. Post your adjusted journal entries in the adjustment section and prepare adjusted trial balance in the worksheet 3. Prepare an income statement, a retained earnings statement, and a balance sheet for the year ended 12/31/2019