Green Valley Company prepared the following trial balance at the end of its first year of operations ending December 31. To simplify the case, the amounts given are in thousands of dollars. UNADJUSTED Debit Credit 20 17 12 79 13 Account Titles Cash Accounts receivable Prepaid insurance Machinery Accumulated depreciation Accounts payable Wages payable Income taxes payable Common stock (5,000 shares) Additional paid-in capital Retained earrings Revenues (rot detailed) Expenses (not detailed) Totals 5 59 11 89 27 166 166 Other data not yet recorded at December 31 include a. Insurance expired during the current year, $9. b. Wages payable, $11. c. Depreciation expense for the current year, $13. d. Income tax expense, $5. Required: 1. Prepare the adjusting entries for the current year. 2. Complete the trial balance Adjustments and Adjusted columns. The "Ref." column is for the reference letter of the adjusting entry effect. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the adjusting entries for the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in thousands.) View transaction list Journal entry worksheet Record the Insurance expired In current year but not recorded, $9. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal Required 1 Required 2 Prepare the adjusting entries for the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in thousands.) View transaction list Journal entry worksheet Record the wages payable not recorded, $11. Note: Enter debits before credits. Transaction General Journal Debit Credit b. Record entry Clear entry View general journal Required 1 Required 2 Prepare the adjusting entries for the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in thousands.) View transaction list Journal entry worksheet Record the depreciation, $13. Note: Enter debits before credits. Transaction General Journal Debit Credit c. Record entry Clear entry View general journal Required 1 Required 2 Prepare the adjusting entries for the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in thousands.) View transaction list Journal entry worksheet Record the unrecorded income tax expense, $5. Note: Enter debits before credits. General Journal Debit Credit Transaction d. Record entry Clear entry View general journal Required 1 Required 2 Complete the trial balance Adjustments and Adjusted columns. The "Ref." column is for the reference letter of the adjusting entry effect. (For revenues and expenses enter the total amount of adjustments in the adjusted column. Enter your answers in thousands.) GREEN VALLEY COMPANY Trial Balance December 31, Current Year Unadjusted Adjustments Debit Credit Ref. Debit 20 Adjusted Debit Credit Account Titles Credit Cash Accounts receivable 17 12 79 13 Prepaid insurance Machinery Accumulated depreciation Accounts payable Wages payable Income taxes payable Common stock Additional paid-in capital Retained earnings Revenues (not detailed) 5 59 11 89 Expenses (not detailed) 27 Totals 166 166