Golden Wedding Dress Company designs custom wedding dresses for brides to be. The person preparing the adjusting entries at year-end was unable to complete the adjustments due to illness. You have been given the following unadjusted trial balance along with some additional information for the December 31, 2020, year-end. Account Accounts receivable Accum. deprec., building Accum. deprec., equipment Advance sales Allowance for doubtful accounts Building Cash Equipment Estimated warranty liability Other information: 1. Assume all accounts have a normal balance. Unadjusted Balance $ 82,500 Land Unadjusted Account Balance $ 138,000 133,000 Merchandise inventory 349,000 Mortgage payable 233,000 Sarah Golden, capital 500 Note payable 449,000 Other operating expenses 85,800 Sales 653,000 Salaries & admin expense 73,200 231,813 224,947 174,000 1,178,000 1,362,000 4,900 Sales returns and allowances 41,360 9,300 2.75% of the balance in the Advance Sales account is for wedding dresses to be made and delivered by Golden during 2021; the remaining 25% is from sales earned during 2020 3. Golden warranties its wedding dresses against defects and estimates its warranty lipility to be 2% of adjusted net sales. 4. The 3%, 5-year note payable was issued on October 1, 2020, interest is payable annually each September 30. 5. The mortgage is paid annually on the first day of the next year. The next mortgage payment will be paid consisting of $9,273 Interest and $24,806 principal for a total of $34,079 6. Uncollectible accounts are estimated to be 1% of outstanding receivables. PIAY 2 of 4 Next > Required: 1. Based on the information provided, journalize the adjusting entries at December 31, 2020 View transaction list No View journal entry worksheet General Journal Advance sales Sales Date December 31, 2020 Debit Credit 58,250 58,250 2. Prepare a classified balance sheet. (Be sure to list the assets and liabilities in order of their liquidity. Round the final answers to the nearest whole dollar amount.) GOLDEN WEDDING DRESS COMPANY Balance Sheet December 31, 2020 Assets Current assets: Cash Accounts receivable $ 88,800 $ 82.500 Less Allowance for doubtful accounts 500 82,000 Merchandise inventory 73,200 Total current assets $ 244,000 Property, plant and equipment Total property plant and equipment ences Total property, plant and equipment Total assets Current liabilities Total current liabilities Non-current liabilities Total liabilities Total liabilities and equity $ 244,000 Liabilities. Equity 0 $ $ 0