Golf Academy, Inc., provides private golf lessons. Its unadjusted trial balance at December 31, 2018, follows, along with information about selected accounts. Credit Further Information Account Names Debit As reported on December 31 bank statement. Based on count, only $150 of supplies still exist. Of this amount, $2,500 was received for December lessons and $450 Cash $31,400 500 Supplies Deferred Revenue $2,950 Salaries and Wages payable Employees were paid $2,500 for 10 days of work through December 28. They have not yet been paid for work on December 29 and 30 The company has paid last year's income tax but not this year's Income Tax Payable Interest Payable The company has not paid the $115 of interest owed on its notes payable for the current period This one-year note was taken out this year on December 1. Notes Payable (long-term) 13,800 years ... . 500 Retained Earnings Service Revenue This is the balance reported at the end of last year 49,150 Most customers pay cash for lessons each time they are provided, but some customer pay in advance. rough December 30, but did not work on Salaries and Wages Expense 35,600 orke December 31. This is the cost of supplies used through November 30 The compa snot paid the $115 of interest owed on its notes Supplies Expense 1,900 Interest Expense The company has an average tax rate of 20%. Income Tax Expense Totals $69,400 $69,400 Prepare the adjusting journal entries that are required at December 31, 2018. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 5 Record the adjusting entry for Interest. Note: Enter debits before credits. 38:52 required for 3. Prepare the adjusting journal entries that are required at December 31, 2018. (If no entry "No Journal Entry Required" in the first account field.) transaction/event, select Answer is not complete. No Transaction General Journal Debit Credit 350 Supplies Expense 1 350 Supplies 2,500 Deferred Revenue 2 Service Revenue 2,500 500 Salaries and Wages Expense 3 500 Salaries and Wages Payable Interest Expense Interest Payable Income Tax Expense e Income Tax Payable