ccount balances from the general ledger of Wyatt Inc. on December 31, 2020, are shown on the tab labeled "Trial Balance." Wyatt's controller is in the process of preparing ear-end financial statements and has come across information that needs to be considered during the preparation process. The amounts listed on the Trial Balance are correct. except for the items in Notes 1-4 below. These items have either not been recorded through an adjusting journal entry or were recorded incorrectly during the year. Note 1: The sales revenue total includes a $48,000 advance payment received from a customer on 11/01/20 for goods to be shipped from November 2020 through October 2021 An equal amount of goods will be shipped on the 15th of each of the months November-October 13 Note 2: 14 15 On October 1, 2020, the company purchased a building for $1,500,000 with a salvage value of $100,000 and a useful life of 20 years. The accountant failed to factor the salvage value into the original depreciation calculation when it was recorded at year-end. Assume straight-line depreciation is used. Also, assume that depreciation expense for other assets was recorded correctly. 16 Note 3: 17 On February 1, 2020. Wyatt paid $240,000 in advance to rent office space for 2 years (starting on February 1, 2020). The accountant recorded the entire payment as rent expense on that date. This was not the only rent expense incurred during the year. 19 Note 4: 20 21 Wyatt borrowed $100,000 from HHR Bank on September 1. 200. The interest rate is 6% and interest payments are due every September 1st. The note was recorded in the general ledger upon origination, but the accountant failed to accrue interest 22 INSTRUCTIONS 23 14 Prepare adjusting journal entries based on Notes 1-4 above. The adjusting journal entries should be recorded in the designated space on the "Trial Balance" tab may be uecessary to add accounts to the trial balance as a result of your journal entries (this can be done by inserting rows where necessary), however all accounts and by Wyatt appen on the "Chat of Accounts tabe you should not create any sew accounts) Green cells should be hand keyed, though you may use an option within the cell to support your calculation Bloc cells should be fonila driven You should use the VLOOKUP function to populate the "Account" calama in the adjusting journal entries. The INDEX MATCH function is also acceptable if you are familiar with that function Instructions Trial Balance Chart of Accounts Type here to search ALIENWARE 223