Intelligent Toys, Inc Unadjusted Trial Balance As at 31 March 2022 XXXXXXXX XXXXXXXXX The following information is available on 31 March 2022 for preparation of adjusting entries: (a) Electricity incurred for the month amounted to $5,600. (b) All employees worked for the whole month of March. The employees have a total salary of $27,000 for a five-day work week. All employees work a five-day week and are paid every four weeks on the following Thursday, based on the number of days they have worked in the last four weeks. Last payment day is on 10 March 2022 (Thursday). ITI paid $108,000($27,0004) for salary up to 9 March 2022 (Wednesday). Employees are entitled to full pay on public holidays but not on Saturday and Sunday. (c) Building is recorded at historical cost and their estimated useful lives are 25 years. No residual value is expected for the building. The building was acquired on 1 April 2020 . The company uses straightline method for all buildings. (d) The prepaid insurance was paid in January 2022 covering a 12-month general insurance from 1 January 2022 to 31 December 2022. (e) Physical count showed that $4,200 of supplies remained on hand. (f) Allowance for bad debt is estimated based on 15% of the closing accounts receivable balance due to dramatical down turn of the economy. (g) Recognize interest expense for the month. (Information of the notes payable: On 13March 2022, ITI purchased $150,000 inventory by signing a 90 -day, 10% notes payable.)