Comprehensive Assignment for marks (W2022) 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, 2020, year-end. Account Accounts receivable Accum. deprec., building Accum. deprec., equipment Advance sales Allowance for doubtful accounts Building Cash Equipment Estimated warranty liability Unadjusted Balance $ 72,000 Land Account 117,000 Merchandise inventory 333,000 Mortgage payable 217,000 Sarah Golden, capital 600 Note payable 417,000 Other operating expenses 87,200 Sales 621,000 Salaries & admin expense 3,300 Sales returns and allowances Unadjusted Balance $ 122,000 70,000 218,809 212,191 154,000 1,162,000 1,346,000 43,000 7,700 Other information: 1. Assume all accounts have a normal balance. 2. 70% of the balance in the Advance Sales account is for wedding dresses to be made and delivered by Golden during 2021, the remaining 30% is from sales earned during 2020. 3. Golden warranties its wedding dresses against defects and estimates its warranty liability to be 2% of adjusted net sales. 4. The 3%, 5-year note payable was issued on October 1, 2020; 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 $8,752 Interest and $23,727 principal for a total of $32.479. (W2022) Saved Help Save & Exit Submit 5. The mortgage is paid annually on the first day of the next year. The next mortgage payment will be paid consisting of $8.752 interest and $23,727 principal for a total of $32.479. 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 $61,700. 8. Sarah promised her operations manager a year-end performance bonus of $3,715, 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, 2020. View transaction list Journal entry worksheet 2 3 4 5 6 7 Record to adjust for earned sales. Note: Enter debits before credits. < Prev 2 of 2 Next ENG 1977 Record to adjust for earned sales. Note: Enter debits before credits. Date December 31, 2020 General Journal Debit Credit Record entry Clear entry View general journal Prepare a classified balance sheet (Be sure to list the assets and liabilities in order of their liquidity. Round the f 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.) GOLDEN WEDDING DRESS COMPANY Balance Sheet December 31, 2020 Assets Current assets Total current assets Property, plant and equipment 4 < Prev 2 of 2 Next Total current assets Property, plant and equipment: Total property, plant and equipment Total assets: Current liabilities: Total current liabilities Liabilities hensive Assignment for marks (W2022) Seved Halp Save & Exit Submi Total current liabilities Non-current liabilities: Total liabilities Total liabilities and equity Equity