Ella Mendes prepared the following trial balance for her yoga studio, Mindful Meditation, for the year ended December 31, 2021. MINDFUL MEDITATION Trial Balance December 31, 2021 Debit Credit Cash $12,730 Accounts receivable 6,400 Supplies 1,820 Prepaid insurance 2.145 Equipment 16,000 Accounts payable $4,160 Notes payable 10,500 E. Mendes, capital 16.945 E.Mendes, drawings 24,600 Service revenue 89,150 Interest expense 550 Rent expense 16,300 Salaries expense 36,900 Telephone expense 3,310 $120.755 $120.755 Use the trial balance to do the following: Demelio & Associates records adjusting entries on an annual basis. The company has the following information available on accruals that must be recorded for the year ended December 31, 2021 1 2 3. Demello has a $13.2006 note receivable with a customer. The customer pays the interest on a monthly basis on the first of the month Assume the customer pays the correct amount each month Demello pays its employees a total of 56.300 every second Wednesday Employees work a five-day work. Monday to Friday, and are paid for all statutory holidays. December 31, 2021, is a Friday. Employees were mad on Wednesday December 29, 2021 up to the Friday of the prior week Demello has a contract with a customer where it provides services prior to billing the customer On December 31, 2021, this customer owed Dernello $3.260. Demello billed the customer on January 7, 2022, and collected the full amount on January 18, 2022 Demello received the $520 December utility billion January 10, 2022. The bill was paid on its due date. January 22,2022 Demello has a $24.000,7% note payable Interestis paid every six months, on October 31 and April 30. Assume that Demello made the correct interest payment on April 30, 2021. and October 31, 2021. 5