Edge Sports Repair Shop jest is uns menthly. The following is Edge Sports Repa She's trials at December 11, 2012, the company's fi IIIIIIII The w ay di 1400 Do 31, 2018 REQUIRED Adige provided Renard all apprise adrese Select the appropriate Ne explanations are wind in the Geral Journal for from "Pasiyewas envies into the w e s Gand therefore The Balanceam C asand]) will automatically cake wa Adjusted Trial , Inc ., Owner's quis. Chaid h , Thew The c hance dodandanted the capital ower and incrementand Prepare the company's Trial Balears, and did Balance Sh Strmene ' quity for the needed Deer 21 2018 Be wwe te wwe proprie and wat 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 Trial Balence Adjusting Entries Adjusted TB Chasing Entries Debit Credit depreciation equipment 9,565 5.29 610,000 72.150 610,000 45.00 219.450 239450 5.500 1) The mortgage payable as a S erealestart is paid on the few day of Otober for the prvi 12 months interest 2) On December 31, 2019, three quarter of the camere was still ungamed 3) A physical count of supplies shows $790 on hand on December 31, 2019 4) The building has an imated callide of 50 years. The equipment has an estimated til life of twelve years 5) Service reve a med but not recorded at December 31, 2019, was $200 6) Salaries of $3.400 have been incurred but are paidat December 31, 2019. Payday will be on January 4, 2030 7) During the next fiscal year, SIX 400 of the mortgage payable is to be repaid The 12meth insurance policy was purchased for $6,000 cash on February 1. 2019, "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 Part a Event Date Account Debit Credit Dec 31 $ 7,875 Interest expense Interest Payable $630,000*5%*3/12 $ 7,875 2 Dec 31 $ 1,100 Unearned Revenue Service Revenue $4,400*1/4 $ 1,100 Dec 31 $ 1,150 Supplies Expense Supplies $1,940-8790 $ 1,150 4 Dec 31 $ 6,000 Depreciation Expense Accumulated Depreciation-Building $300,000/50 Years $ 6,000 Dec 31 $ 3,000 Depreciation Expense Accumulated Depreciation Equipment $36,000/12 $ 3,000 Dec 31 $ 6,200 Accounts Receivable Service Revenue $ 6,200 Dec 31 $ 3,400 Salarics Expense Salaries Payable $ 3,400 Dec 31 $ 18,400 Mortgage Payable-Long Term Mortgage Payable-Short Term $ 18,400 Dec 31 $ 500 Insurance Expense Prepaid Insurance $6,000/12 $ 500