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	$	82,600		Land	$	139,000
Accum. deprec., building		134,000		Merchandise inventory		73,400
Accum. deprec., equipment		350,000		Mortgage payable		232,625
Advance sales		234,000		Sarah Golden, capital		251,965
Allowance for doubtful accounts		600		Note payable		168,000
Building		451,000		Other operating expenses		1,179,000
Cash		88,900		Sales		1,363,000
Equipment		655,000		Salaries & admin expense		60,890
Estimated warranty liability		5,000		Sales returns and allowances		9,400

Other information:

1. Assume all accounts have a normal balance.
2. 80% of the balance in the Advance Sales account is for wedding dresses to be made and delivered by Golden during 2021; the remaining 20% is from sales earned during 2020.
3. Golden warranties its wedding dresses against defects and estimates its warranty liability to be 3% of adjusted net sales.
4. The 4%, 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 $9,305 interest and $24,874 principal for a total of $34,179.
6. Uncollectible accounts are estimated to be 1% of outstanding receivables.
7. A physical count of the inventory showed a balance actually on hand of $63,400.
8. Sarah promised her operations manager a year-end performance bonus of $2,381, 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.)

4 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. 10 points eBook Account Accounts receivable Accum. deprec., building Accum. deprec., equipment Advance sales Allowance for doubtful accounts Building Cash Equipment Estimated warranty liability Unadjusted Balance Account $ 82,600 Land 134,000 Merchandise inventory 350,000 Mortgage payable 234,000 Sarah Golden, capital 600 Note payable 451,000 Other operating expenses 88,900 Sales 655,000 Salaries & admin expense 5,000 Sales returns and allowances Unadjusted Balance $ 139,000 73,400 232,625 251,965 168,000 1,179,000 1,363,000 60,890 9,400 Print References Other information: 1. Assume all accounts have a normal balance. 2. 80% of the balance in the Advance Sales account is for wedding dresses to be made and delivered by Golden during 2021; the remaining 20% is from sales earned during 2020. 3. Golden warranties its wedding dresses against defects and estimates its warranty liability to be 3% of adjusted net sales. 4. The 4%, 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 $9,305 interest and $24,874 principal for a total of $34,179. 6. Uncollectible accounts are estimated to be 1% of outstanding receivables. 7. A physical count of the inventory showed a balance actually on hand of $63,400. Check my work 4 10 points 1. Assume all accounts have a normal balance. 2. 80% of the balance in the Advance Sales account is for wedding dresses to be made and delivered by Golden during 2021; the remaining 20% is from sales earned during 2020. 3. Golden warranties its wedding dresses against defects and estimates its warranty liability to be 3% of adjusted net sales. 4. The 4%, 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 $9,305 interest and $24,874 principal for a total of $34,179. 6. Uncollectible accounts are estimated to be 1% of outstanding receivables. 7. A physical count of the inventory showed a balance actually on hand of $63,400. 8. Sarah promised her operations manager a year-end performance bonus of $2,381, which would be paid with her salary in January for high sales achieved this year. eBook Print References Required: 1. Based on the information provided, journalize the adjusting entries at December 31, 2020. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 > Record to adjust for earned sales. 4 View transaction list Journal entry worksheet 10 points eBook Record to adjust for earned sales. Print References Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2020 Record entry Clear entry View general journal Check my work 4 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.) 10 points GOLDEN WEDDING DRESS COMPANY Balance Sheet December 31, 2020 Assets eBook Print Current assets References $ 0 Total current assets Property, plant and equipment: Total property, plant and equipment 4 $ 0 10 points Total current assets Property, plant and equipment: eBook Print References Total property, plant and equipment Total assets $ 0 Liabilities Current liabilities: Total current liabilities $ 0 4 Total property, plant and equipment Total assets $ 0 Liabilities Current liabilities: 10 points eBook Print References 0 Total current liabilities Non-current liabilities: 0 Total liabilities $ 0 Equity Total liabilities and equity $ 0