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 Unadjusted Balance Account Unadjusted Balance Accounts receivable $ 82,800 Land $ 140,000 Accum deprec , building 135,000 Merchandise inventory 73,600 Accum deprec , equipment 351,000 Mortgage payable 233,438 Advance sales 235,000 Sarah Golden, capital 226,222 Allowance for doubtful accounts 700 Note payable 176,000 Building 453,000 Other operating expenses 1,180,000 Cash 89,000 Sales 1,364,000 Equipment 657,000 Salaries admin expense 41,560 Estimated warranty liability 5,100 Sales returns and allowances 9,500 Other information Assume all accounts have a normal balance 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 Golden warranties its wedding dresses against defects and estimates its warranty liability to be 2 of adjusted net sales The 3 , 5 year note payable was issued on October 1, 2020 interest is payable annually each September 30 The mortgage is paid annually on the first day of the next year The next mortgage payment will be paid consisting of $9,338 interest and $24,941 principal for a total of $34,279 Uncollectible accounts are estimated to be 1 5 of outstanding receivables A physical count of the inventory showed a balance actually on hand of $63,500 Sarah promised her operations manager a year end performance bonus of $2,524, which would be paid with her salary in January for high sales achieved this year Required 1 Based on the information provided, journalize the adjusting entries at December 31, 2020 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 )

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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

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	Unadjusted Balance		Account		Unadjusted Balance
Accounts receivable	$	82,800	Land	$	140,000
Accum. deprec., building		135,000	Merchandise inventory		73,600
Accum. deprec., equipment		351,000	Mortgage payable		233,438
Advance sales		235,000	Sarah Golden, capital		226,222
Allowance for doubtful accounts		700	Note payable		176,000
Building		453,000	Other operating expenses		1,180,000
Cash		89,000	Sales		1,364,000
Equipment		657,000	Salaries & admin expense		41,560
Estimated warranty liability		5,100	Sales returns and allowances		9,500

Other information:

Assume all accounts have a normal balance.
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.
Golden warranties its wedding dresses against defects and estimates its warranty liability to be 2% of adjusted net sales.
The 3%, 5-year note payable was issued on October 1, 2020; interest is payable annually each September 30.
The mortgage is paid annually on the first day of the next year. The next mortgage payment will be paid consisting of $9,338 interest and $24,941 principal for a total of $34,279.
Uncollectible accounts are estimated to be 1.5% of outstanding receivables.
A physical count of the inventory showed a balance actually on hand of $63,500.
Sarah promised her operations manager a year-end performance bonus of $2,524, which would be paid with her salary in January for high sales achieved this year.

Required: 1. Based on the information provided, journalize the adjusting entries at December 31, 2020.

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.)