Interest receivable 1,300 Supplies inventory 138,600 Prepaid insurance 8,700 Notes receivable 50,000 Jump Rope Company's annual accounting year ends on September 30. All journal entries have been made for the period ended September 30, 2020, except for the following two items. The following data are available to determine adjusting entries: A. Cash of $4,200 was collected on August 1, 2020, for services to be provided evenly over the following 12 months beginning on August 1. Deferred service revenue was credited for $4,200 when the cash was received. B. The company earned service revenue of $2,000 on a special job that was completed on September 29, 2020. Collection will be made during October 2020. No entry has been recorded yet. Prepare the adjusting journal entries that should be recorded. Property and equipment Accumulated depreciation Accrued liabilities Deferred revenue Notes payable Contributed capital Retained earnings Sales revenue 277,800 $64,500 Accounts payable 104,100 21,600 9,200 87,400 216.100 143,500 40,500 Interest revenue 21,900 Cost of service expense 26,400 2) A company's unadjusted trial balance includes the following account balances: Supplies expense 0 Depreciation expense 0 Wages expense 3,000 Rent expense 17,800 UNADJUSTED TRIAL BALANCE Account Cash Debit $68,900 Credit Accounts receivable 116,300 Insurance expense 0 Totals $708,800 $708,800 The following data are available to determine adjusting entries: A) $4,350 of prepaid insurance expired during the period. B) The company estimates depreciation expense of $8,150 for the period. C) A count showed $85,700 of supplies on hand. D) Interest earned and receivable on the outstanding notes receivable is $260 for the period. Prepare the adjusting journal entries that should be recorded. Then, prepare an adjusted trial balance. Accounts payable $281,700 Prepaid insurance $6,800 Property and equipment 672,500 Contributed capital 380,600 Cost of service expense 183,600 Other revenue 114,100 Supplies inventory 216,900 Deferred revenue 83,600 Service revenue 904,000 Depreciation expense 57,750 Bonds payable 229,600 Accounts receivable 607,550 Interest receivable 4,300 Rent expense 30,500 Retained earnings 187,400 Cash 351,340 Notes payable Investments 356,040 Accrued liabilities 23,400 146,400 Prepaid rent 11,200 Accumulated depreciation Supplies expense 128,900 336,200 Administrative and general expense (includes interest, utilities, etc.) Income tax payable 64,300 0 Required: A) Calculate the income before income tax. B) Calculate the income tax owed by the company if its tax rate is 40%. C) Calculate the net income. D) Prepare an adjusted trial balance. E) Prepare an Income Statement. 3) The following balances are reflected in the records of Snakes-and- Ladders Company at the end of 2020. These amounts reflect balances after adjustments, but before the calculation of income tax expense.