Consider the following trial balance and adjustment data for Diane's Dance Academy. View the unadjusted and balance Your task is to do the following 1. Prepare a worksheet 2. Journalize adjusting and closing entries. View the adjustment data. 1. Prepare a worksheet Complete the worsheet one section at a time, beginning with the Adjustments columns. When completing the Adjustments column, enter a posting reference along with each debit or credit amount that corresponds to the letter of the adjusting entry (A, B, C., etc.). For the Income Statement and Balance Sheet columns, remember to include the net income or loss after the totals and then total the columns again. (If an input field is not used in the worksheet, leave the field empty; do not select a label or enter a zero. Abbreviations used: Acc Accumulated, Dep Depreciation, Exp Expense, Equip Equipment) Diane's Dance Academy Worksheet Month Ended November 30, 202X Trial Balance Adjustments Account Titles Debit Credit Debit Credit Adjusted Trial Balance Debit Income Statement 1 Credit Debit Credit Balance Sheet Debit Credit Cash 42.500 2. Journalize adjusting and closing entries. (Record debits first, then credits. Exclude explanations from journal entries.) Start by journalizing the adjusting entries, beginning with adjustment A View the worksheet that you prepared above. A. Insurance expired, $1,000. Date Nov 30, 202X Account Titles Debit Credit Ranna ennnlies on hand $600. Diane's Dance Academy Trial Balance November 30, 202X Account Titles Debit Credit Cash 42,500 Accounts Receivable 3,000 Prepaid Insurance 1,300 Dance Supplies 1,100 Dance Equipment 18,000 Accumulated Depreciation, Dance Equipment 5,700 Accounts Payable 16,000 D. Daly, Capital 22,300 D. Daly, Withdrawals 700 Accounts Receivable Prepaid Insurance 3,000 1,300 Dance Supplies Dance Equipment Accounts Payable D. Daly, Capital 1,100 18,000 Accumulated Depreciation, Dance Equipment 5,700 16,000 22,300 D. Daly, Withdrawals 700 Dance Fees Earned 25,000 Salaries Expense 1,300 Cell Phone Expense 200 900 Advertising Expense 69,000 69,000 Totals Adjustment Data Adjustment Data A. Insurance expired, $1,000. B. Dance supplies on hand, $600. C. Depreciation on dance equipment, $900. B D. Salaries earned by employees but not to be paid until December, $900.