Can I get help with this question please and thank you.
Golden Wedding Dress Company designs custom wedding dresses for brides to be. The person preparing the adjusting entries at year-end was unable to complete the adjustments due to illness. You have been given the following unadjusted trial balance along with some additional information for the December 31, 2023, year-end. Other information: 1. Assume all accounts have a normal balance. 2. 75% of the balance in the Advance Sales account is for wedding dresses to be made and delivered by Golden during 2024 ; the remaining 25% is from sales earned during 2023. 3. Golden warranties its wedding dresses against defects and estimates its warranty liability to be 3% of adjusted net sales. 4. The 4\%, 5-year note payable was issued on October 1, 2023; interest is payable annually each September 30. 5. The mortgage is paid annually on the first day of the next year. The next mortgage payment will be paid consisting of $9,110 interest and $24,469 principal for a total of $33,579. 6. Uncollectible accounts are estimated to be 1.5% of outstanding receivables. 7. A physical count of the inventory showed a balance actually on hand of $62,800. 8. Sarah promised her operations manager a year-end performance bonus of $2,557, which would be paid with her salary in January for high sales achieved this year. Required: 1. Based on the information provided, journalize the adjusting entries at December 31, 2023. Record to adjust for earned sales. 2 Record the estimated warranty liability. 3 Record the accrual of interest expense on the note payable. 4 Record the accrual of interest on mortgage payable. 5 Record to adjust for estimated uncollectible accounts. 6 Record to adjust for shrinkage. 7 Record the adjustment for salaries owing. Note : = journal entry has been entered 2. Prepare a classified balance sheet. (Be sure to list the assets and liabilities in order of their liquidity. Round the final answers to the nearest whole dollar amount.) Liabilities Golden Wedding Dress Company designs custom wedding dresses for brides to be. The person preparing the adjusting entries at year-end was unable to complete the adjustments due to illness. You have been given the following unadjusted trial balance along with some additional information for the December 31, 2023, year-end. Other information: 1. Assume all accounts have a normal balance. 2. 75% of the balance in the Advance Sales account is for wedding dresses to be made and delivered by Golden during 2024 ; the remaining 25% is from sales earned during 2023. 3. Golden warranties its wedding dresses against defects and estimates its warranty liability to be 3% of adjusted net sales. 4. The 4\%, 5-year note payable was issued on October 1, 2023; interest is payable annually each September 30. 5. The mortgage is paid annually on the first day of the next year. The next mortgage payment will be paid consisting of $9,110 interest and $24,469 principal for a total of $33,579. 6. Uncollectible accounts are estimated to be 1.5% of outstanding receivables. 7. A physical count of the inventory showed a balance actually on hand of $62,800. 8. Sarah promised her operations manager a year-end performance bonus of $2,557, which would be paid with her salary in January for high sales achieved this year. Required: 1. Based on the information provided, journalize the adjusting entries at December 31, 2023. Record to adjust for earned sales. 2 Record the estimated warranty liability. 3 Record the accrual of interest expense on the note payable. 4 Record the accrual of interest on mortgage payable. 5 Record to adjust for estimated uncollectible accounts. 6 Record to adjust for shrinkage. 7 Record the adjustment for salaries owing. Note : = journal entry has been entered 2. Prepare a classified balance sheet. (Be sure to list the assets and liabilities in order of their liquidity. Round the final answers to the nearest whole dollar amount.) Liabilities
