Consider the unadjusted trial balance of London, Inc. at December 31, 2020, and the related month-end adjustment data. Requirements 1) Prepare the adjusted trial balance of London Inc. at December 31, 2020. The unadjusted balances have been entered for you. Key each adjusting entry by letter. 2) Prepare the single-step monthly income statement, the statement of retained earnings, and the classified balance sheet.

Trial Balance Work Sheet December 31, 2020 Trial Balance Adjustments Debit Credit Debit Credit Account Cash 8,600 1,000 Accounts receivable Prepaid rent 3,000 1,800 66,000 Supplies Furniture Accumulated depreciation-furniture Accounts payable Salary payable Common stock Retained earnings 3,000 OCI 3,300 C UDDIINN 15,000 41,390 Dividends 4,400 Service revenue 25,500 DI 2,900 Salary expense Rent expense INNOUL 490 Utilities expense Depreciation expense-furniture Supplies expense 88,190 28,190 _ 28.180 Total 88,190 = Adjustment data at December 31, 2020: a. Accrued service revenue at December 31, $3,880. b. Prepaid rent expired during the month. The unadjusted prepaid balance of $3,000 relates to the period December 1, 2020 through February 28, 2021. c. Supplies used during December, $1,320. d. Depreciation on furniture for the month. The estimated useful life of the furniture is five years. e. Accrued salary expense at December 31 for Monday, Tuesday and Wednesday. The five-day weekly payroll of $22,000 will be paid on Friday. For the purpose of this calculation, assume December 31 falls on a Wednesday