Journalise the annual adjusting entries that explain the changes in the balances from the unadjusted balances to arrive at the adjusted balances, include narrations.

Question 8: Accrual accounting recording (8 Marks) Presented below is the unadjusted and Adjusted Trial Balance for Tallangatta Ltd on 31 December 2020. Tallangatta Ltd Trial Balances 31 December 2020 Unadjusted Adjusted Dr. Cr. Dr. Cr Cash $ 2,000 $ 2,000 Accounts Receivable 2,800 3,900 Prepaid Rent 2,100 1,500 Supplies 1,200 800 Equipment 18,000 18,000 $ 1,300 $ 1,500 2,700 3,000 Accumulated Depreciation Accounts Payable Notes Payable Interest Payable Salaries Payable 10,000 10,000 120 600 Revenue Received in Advance 4,460 4,360 Share capital 6,000 6,000 Retained earnings 1,200 1,200 3,200 3,200 8,000 9,200 2,060 2,660 1,800 2,100 Dividends paid Service Revenue Salaries Expense Electricity Expense Rent Expense Supplies Expense Depreciation Expense Interest Expense 500 1,100 400 200 120 Totals $33.660 $33.660 $35,980 $35.980