Instructions Record these transactions in the general journal for Bear Advertising Inc. Then post your journal entries in the t-secounts provided and prepare a trial balance. You may want to refer to Part 1 of this project where you have already analyzed these transactions General Journal Account PR Debt Credit 81 You invested $11,000 in exchange for common stock to start Bear Advertising Inc B/4 Purchased 6 months of insurance for $3000 cash BT Purchased $6,000 of computer equipment by paying $3,000 in cash and signing a one year note payable for the rest 8/10 Purchased $3,000 of advertising supplies for cash 813 A customer paid 57.000 in cash for advertising Servion performed today BI7 Received a vtity for $750 and decided to paytlar 8.20 A customer paid $5000 for advertising services to be performed in the future 32 Paid half of the counts payable from 117 6/25 Performed advertising services and charged the customer 59.000 on account to be paid later) 828 Reived at the balance from the 825 automerich 8/31 Paid $3.000 individends Cash Accounts Receivable Prepaid Insurance Advertising Supplies Equipment Accounts Payable Uneamed Revenue Notes Payable Common Stock Retained Earings Dividends Advertising Revenue Utility Expense Instructions Below is the unadjusted trial balance for Bear Advertising Inc. Record the adjusting entries in the General Journal. Then post your adjusting entries in the l-accounts provided and prepare an adjusted trial balance, General Journal Bear Advertising Inc Trial Balance August 31, 20XX Date Account PR Debt Credit $15125 4500 3000 3000 6000 Cash Accounts Receivable Prepaid Insurance Advertising Supplies Equipment Accounts Payable Uneamed Revenue Notes Payable Common Stock Dividends Advertising Revenue Utility Expense Totals $375 5000 30001 11000 3000 16000 750 $35375 535375 . The company has completed 3000 of the work for which you were prepaid on 2/20 The depreciation or equipment for the month of August is $150 . One month of the 6-month insurance policy purchased has expired (been used . Ons month of interest on the roles payable is $30. . The company has used 5125 of phone and Internet Services for which nobl has been received . The company has podmed 51000 of advertising Services for a customer who has not been bied yet An inventory of advertising supplies reveals that S1000 remain unused Cash Accounts Receivable $4500 Prepaid Insurance $3000 $15125 Advertising Supplies 53000 Equipment 55000 Accounts Payable Uneamed Revenue 55000 Notes Payable 33000 Common Stock $11000 Retained Earnings 50 Dividends 33000 Advertising Revenue $16000 Utility Expense $750 Instructions: Below is the adjusted trial balance for Bear Advertising Inc. (1) Prepare an Income Statement, Statement of Retained Earnings, and a Balance Sheet. (2) Then prepare closing entries, post them to t-accounts, and prepare a post-closing trial balance, Bear Advertising Inc Adjusted Trial Balance August 31, 201xx Income Statement 515125 5500 2500 1000 6000 Cash Accounts Receivable Prepaid Insurance Advertising Supplies Equipment Accumulated Depr Accounts Payable Uneared Revenue Interest Payable Notes Payable Common Soo Retained Eaming Didende Advertising Deprecation Expense Insurance Expen Interest Expense Supplies Eponse Utily Express Total $ 150 500 2000 30 3000 11000 0 3000 20000 150 500 30 2000 Statement of Retained Earings $36680 $36680 Balance Sheet Date Account General Journal PR Debt Credit Cash Accounts Receivable Prepaid Insurance $15125 $5500 $200 Advertising Supplies Equipment $6000 Accum Depr - Equip $150 $1000 Accounts Payable 5500 Uneamed Revenue 52000 Interest Payable $30 Notes Payable Common Stock 511000 Retained Earnings $3000 $0 Dividends Advertising Revenue 520000 33000 Depreciation Expense $150 Insurance Expense $500 Interest Expense $30 Supplies Expense S2000 Utility Expense $875