Edge Sports Repair Shop adjusts its accounts monthly. The following is Edge Sports Repair Shop's trial balance at December 31, 2019, the company's fiscal year end: EDGE SPORTS REPAIR SHOP Trial Balance December 31, 2019 Debit 1 16.250 counts receivable 27.900 Prepaid insurance 1000 Adjusting Entries Debit Credit Closing Entries Closing Entries Debit Credit Post-closing TB Debit Credit Credit Adjusted To Debit Credit 16.250 27,900 1000 SO 500.000 300.000 1940 500 000 300 000 200.000 36,000 9.500 30,000 9565 4.400 5250 620 000 Acoul d depreciation-busing PA Accumulated depreciation equipment Patents Accounts payable Unearned revenue Salaries Payable Interest Payable Mortgage payable R. Bwana R Brachandavings Service revenge Interest Expense Swaries Expense Utilties Ewende Supplies Expense Insurance Expense Depreciation Expense 45000 154 000 16.000 28875 154,000 1.000 7600 17825 work area 42 Additional information: 1) The mortgage payable has a 5% interest rate. Interest is paid on the first day of October for the previous 12 month's interest. 2) On December 31, 2019, three quarters of the unearned revenue was still unearned. 3) A physical count of supplies shows $790 on hand on December 31, 2019 4) The building has an estimated useful life of 50 years. The equipment has an estimated useful life of twelve years 5) Service revenue earned but not recorded at December 31, 2019, was 56,200 6) Salaries of $3,400 have been incurred but are unpaid at December 31, 2019. Payday will be on January 4, 2020 7) During the next fiscal year, 518,400 of the mortgage payable is to be repaid. 8) The 12-month insurance policy was purchased for 55.000 cash on February 1, 2019 54 REQUIRED: 56 Part A Adjusting Journal Entries 58 Record all appropriate adjusting entries using the General Journal format provided below. 59 Select the most appropriate account name from the drop down list in each space and enter the transaction amount in the DR and CR spaces. 60 No explanations are required. 1) Dec 31 work area Post your adjusting entries into the adjust ed from Gand) to the right of the original hallone. The Ad Col l and will automatically cute Parts Austed recomme autori ce sheet 21 and its r estant and Prepare the com e di ance, and classified Balance sheet of December Statement of Owner's quity for the year ended December 11, 2018 Be sure to se properties and formatting Edge Sports Repair Shop adjusts its accounts monthly. The following is Edge Sports Repair Shop's trial balance at December 31, 2019, the company's fiscal year end: EDGE SPORTS REPAIR SHOP Adjusting Entries Closing Entries lated depreciation equipment 9,565 4,400 5.290 630,000 72.150 5.250 630.000 72,150 239450 239,450 liefermetiam 1) The mortgage payable as a 5% interest rate. Interest is paid on the rest day of October for the previous 12 month's interest 3) On December 31, 2019, three quarter of the uncerned revenue was still unced J) A physical count of supplies shows $790 on hand on December 31, 2019 4) The building aan te scale of 50 years. The equipment has an estimated life of twelve years 9) Service reve r ed de December 31, 2019, was $4,200 6) Salaries of $3,400 have been incurred but are paid December 31, 2019. Payday will be onl y 4. 2020 1) During the new year, SIN 400 of the mortgage le is to be repaid 9 The 12-metha ce policy was purchased fo 56,000 cash on February 1, 2019 REQUIRED: Part Adjusting Journal Entries Record all appropriate ting entries using the General Journal format provided below Select the most appropria dewi name from the drop donwl in each space and enter the transaction No explanas are required. amount in the DR and CR specs. LILLLLLLL 4 . "Post your adjusting winies into the "ad " SG and to the right of the original Trial Balance. The Adjusted Trial Ralance in Clunes and will automatically calculate Adjusted Trial Raluace,Income Start Street of Owner's Equity, Classified Balance Sheet The The w w ent has been model and add the cal Prepare the company's adjusted Trial Baluwer, and classified Balance Sheetar December 31, 2019 and its Income Statement and Statement of Owner's Equity for the year and December , 2019 Be sure to properties and format Adjusted Trialace DS D ESC