F The following information is from the December 31 un-adjusted trial balance of Excelsior Shop. Credit Debit $ 100,000.00 $ 204,000.00 $ 145,000.00 $ 72,000.00 $ 12,000.00 Cash Accounts Receivable Equipment Accumulated Depreciation - Equipment Supplies Notes Payable Service Revenue Insurance Expense Salaries Expense Interest Expense Advertising Expense $ 100,000.00 $ 450,000.00 $ 24,000.00 $ 125,000.00 $ 2,500.00 $ 9,500.00 a. From the trial balance and the following information, prepare the annual adjusting necessary on December 31. 1.00 The equiment has an estimated useful life of 10 years and a salvage value of $25,000 at the end of the 10-year period. The company uses straight-line depreciation method. 1.00 The equiment has an estimated useful life of 10 years and a salvage value of $25,000 at the end of the 10-year period. The company uses straight-line depreciation method. 2.00 The note payable is a 90-day note given to the bank November 1. The interest rate for the interest-bearing note is 12%. 3.00 During the month of December, the company sold 1,500 coupons for $20 each and included it in Service Revenue. These coupons can be used for purchases from January 1 through the end of March the following year. 4.00 Advertising expense paid in advance and included in Advertising Expense $2,500. 5.00 The company pays $2,500 Salary every Friday, December 31 is Tuesday. 6.00 The amount of supplies available at the end of the year is $3,000. 7.00 The company paid $6,000 insurance in advance for the following year. This was recorded as Insurance Expense. b. What adjusted ending balance should be reported in the company's Financial Statement for each account