C2- The trial balance of Snow Company at December 31, 2018 is shown below. ISK2: 10 marks Snow Company Trial Balance December 31, 2018 Debit Credit Accounts Cash 12,500 Prepaid Insurance 27,500 Supplies 13,750 Furniture 300,000 Accumulated Depreciation 56,250 Notes Payable 50,000 Accounts Payable 30,000 Snow Capital 191,250 Snow Drawings 30,000 Service Revenue 61,250 Utilities Expense 5,000 388,750 388,750 Total Other information: 1. Depreciation on furniture for December was $5,000. 2. Rent owed for the month of December but will not be paid until January, 2019 was $7,500. 3. Salaries owed for the month of December but will not be paid until January, 2019 was $10,000. 4. A physical count of supplies indicates $3,750 on hand at December 31. 5. The amount of insurance that expired in the month of December was $2,500. Required: a. Prepare the adjusting entries required on December 31, 2018. (5 marks) b. Prepare the adjusted trial balance on December 31, 2018