Journalize the adjusting entries, post the journal entries to the ledger and prepare an adjusted trial balance as of August 31, 2019.Next, prepare an income statement for the year ended August 31, 2019 and a balance sheet as at August 31, 2019

B. Roman Consulting began its business a few months ago. At first when it started, several clients paid retainers (payment in advance). Other clients paid when services was provided. Below is the trial balance as at July 31, 2019 Roman Consulting Firm Trial Balance July 31, 20169 Items Cash $ 14,000 1,900 7,000 520 Accounts receivable Office equipment Supplies 3 4 Accounts payable Unearned retainers Capital 5 470 6 7,000 17,000 7 Drawings 9 6.600 8 15,530 Consulting fees Wages expense 11 4,000 1,480 4,000 500 40,000 10 Utility expense 12 Rent expense Miscellaneous expense 13 Total 40,000 Roman Consulting engaged in the following transactions: Aug. 1 Paid the premium on a one-year insurance policy, $2,400. 2 Purchased office furniture on credit,, $2,500. 5 Billed clients for services provided, $1,000. 7 Purchased additional office equipment for cash, $800. 10 Performed services worth $1,000 for a client who had paid earlier (this transaction affect Unearned retainers account). 16 Billed customers for services provided, $750. 18 Paid the full amount of the office furniture purchased on August 2 21 Paid $800 for rent. Paid for miscellaneous expense, $100. 25 Received cash from clients for consultation works, $900. 28 Deposited owner's cash $2,000 in the business' bank account. 29 Received $900 from clients billed on July. 30 Paid wages to assistant, $1,000. 31 Paid utility bill for August, $300. 5. You are given the following additional information a. The depreciation charges each on office equipment, $370 and on office furniture $50. b. Supplies that have been used, $380. c. The insurance expense that should be recorded as at August 31, 2019, would be $200. Instructions: Journalize the adjusting entries, post the journal entries to the ledger and prepare an adjusted trial balance as of August 31, 2019. Next, prepare an income statement for the year ended August 31, 2019 and a balance sheet as at August 31, 2019