C Bi Heinn the Adiusted Trial Balance, prepare an Income Statement and a Income Statement Instructions: Using the ledger accounts below for Madonna tutoring service, prepare appropriate adjusting entries for the year ended December 31,20 -, by replacing the appropriate identification number(5) in the debit and credit columns provided and the dollar amount in the adjoining column. ASSUME ADJUSTMENTS ARE MADE ANNUALLY. Item 0 is given as an example. Instructions: Place a "D" (Debit) or "C" (Credit) in the space provided to indicate whether the account would be debited or credited for its balance in the closing process. Insert an X in the space prowidod if the armunt is not closed. Instructions: Using the space provided, identify two accounting principles and their importance in ensuring that financial statements will be fair and accurate for many different types of users