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I need help answering this question, please! I tried, but I couldnt. Help me! Thanks CP4-4 Identifying and Preparing Adjusting Journal Entries [LO 4-1, L?42,

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CP4-4 Identifying and Preparing Adjusting Journal Entries [LO 4-1, L?42, LO 4-3, LO 461 The following information applies to the questions displayed below] Golf Academy, Inc., provides private golf lessons. Its unadjusted trial balance at December 31, 2015, follows, along with Information about selected accounts As reported on December 31 bank statement Based on count, only $260 of supplies still exist Of this amount, $3,600 was recelved for December lessons and $560 for January lessons Employees were paid $1,600 for 10 days of work through December 28. They have not yet been paid for work on December 29 and 30 Cash Supplles Unearned Revenue $32,500 720 $4160 Salortes and Wages payable Income Tax Payable Interest Payable 0 The company has paid last year's income tax but not this years tax. The company has not pald the $100 of interest owed on its note payable for the current pertod 0 Note Payeble long-term) Common Stock Retained Earnings Service Revenue 12.000 This one-year note was taken out this year on December 1 1,000 This amount was contributed for common stock In prior years. 3,600 This is the balance reported at the end of last year 52,160 Most customers pay cash for lessons each time they are provided but some customers pay in advance. Employees worked through December 30, but did not work on . December 31 This is the cost of supplies used through November 30 The company has not paid the $100 of interest owed on Its note payable for the current penod The company has an average tax rate of 30% Salaries and Wages Expense 36700 3,000 Supplies Expense interest Expense Income Tax Expense Totols $72.920 $72,920

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