Exercise 1: (30 pts) - Adjusting Entries Julie Szo opened Green Tree Lawn Care Company on April 1, 2021. At April 30, 2021, the trial balance is as follows: COMANDAR !! Analysis reveals the following additional data for the month: 1. Prepaid insurance is the cost of a 12-month insurance policy that started April 1. 2. Supplies costing $225 were on hand on April 30. 3. The equipment is expected to have a useful life of four years. 4. The note payable is dated April 1. It is a six-month, 4% note with interest payable on the first of each month starting on May 1. 5. Seven customers paid for the company's six-month lawn service package of $600, beginning in April. These customers were served in April. 6. Lawn services performed for other customers but not billed or recorded at April 30 totaled $1,500. Instructions a. Prepare the adjusting entries for the month of April. Show calculations. b. Prepare T accounts for the accounts affected by the adjusting entries. Post the adjusting entries to the T accounts. c. Prepare an adjusted trial balance at April 30, 2021. d. Prepare an income statement, statement of owner's equity, and balance sheet.)Bonus) Exercise 1: (30 pts) - Adjusting Entries Julie Szo opened Green Tree Lawn Care Company on April 1, 2021. At April 30, 2021, the trial balance is as follows: Cash Prepaid insurance Supplies Equipment GREEN TREE LAWN CARE COMPANY Trial Balance April 30, 2021 Debit Credit $10,950 3,600 850 28,000 Notes payable $20,000 Accounts payable 450 Unearned revenue 4,200 J. Szo, capital 18,000 J. Szo, drawings 650 Service revenue 1,800 Rent expense 400 Totals $44,450 $44,450