Intermediate accounting 1 The following are all accounts and their balances in Red Sea Company at 31-12-2021 before adjusting entries. Adaitona ntormaton - All payable expenses paid in cash - Half of prepaid rent become an actual expense - Half of unearned rent and service become an actual revenue - No more supplies on hand Prepare: 1- Trail balance 2- Adjusting entries 3- Posting for adjusting entries 4- Adjusted trail balance 5- Income statement, retained earnings statement and financial position statement