C3. The trial balance of Sky Company at December 31, 2018 is shown below. ISk2: 10 marks Sky Company Trial Balance December 31,2018 Debit Credit 2,500 2,750 5,500 60,000 Cash Supplies Prepaid insurance Furniture Accumulated Depreciation Accounts payable Notes payable Owner's capital Owner's drawings Service Revenue Utilities expense Total 11,250 6,000 10,000 38,250 6,000 12,250 1,000 77,750 77,750 Other information: (a) The amount of insurance that expired in the month of December was $500. (b) Rent owed for the month of December was $1,500 but will not be paid until January, 2019 (c) A physical count of supplies indicates $750 on hand at December 31. (d) Depreciation on furniture for October was $1,000 (e) Salaries owed for the month of December was $2,000 but will not be paid until January, 2019 Required: (a) Prepare the adjusting entries required on December 31, 2018 for the transactions above. (5 marks) (b) Prepare the adjusted trial balance for the month ended December 31, 2018