Keep Cool Corporation was established in January 2014. The following data are business transactions and beginning balance of its accounts during the first quarter of 2017. The business closed its accounts at the end of March 31, 2017. CASH INVENTORY ACCOUNT RECEIVABLE ACCRUED INTEREST REVENUE FURNITURE ACCUMULATED DEPRECIATION-FURNITURE ACCOUNT PAYABLE UNEARNED RENT REVENUE/PREPAID RENT REVENUE PREPAID REVENUE INCOME TAX PAYABLE COMMON STOCK AT PAR VALUE ($1 per share) ADDITIONAL PAID IN CAPITAL RETAINED EARNINGS $ 72,000 11,000 28,000 5,000 55,000 3,000 30,000 9,000 15,000 18,000 30,000 55,000 11,000 January 4 Owners issued 50,000 additional shares to public at $3 per share. January 5 Acquired inventory worth, $20,000 with the cash payment of $8,000. January 6 Paid rent expense in advance for January, February, and March 2017, $3,000. January 6 Paid insurance policy to cover the business for 6 months, $12,000. January 9 Acquired supplies to be used in the current period for cash worth $5,000. February 2 Sold goods on open account, $50,000 with the cost of goods sold of $22,000. February 4 Returned inventory purchased for cash worth, $150. February 10 Took a long-term loan from a financial institution, $100,000 with the interest rate of 12% per annum. February 16 Bought inventories on credit, $35,000. February 25 Credit customers pay their debts, $15,000. February 28 Acquired office equipment, $40,000 and received a note to evidence the debt worth $25,000. February 28 Made a return of inventory to supplier worth, $900 (Refer transaction on February 16) March 5 Loaned $80,000 cash to workers with the repayment period of 5 years. Issued a note to the workers. Interest rate of 6% is payable by the workers on every December 31. March 8 Made sales of $90,000 with comprise of cash sales worth $18,000. The inventories sold were purchased at a cost of $31,000. March 11 Paid advertising expense of $19,000. March 16 Paid selling expense of $12,300. March 23 Received cash worth $5,000 for goods to be delivered on March 31, 2017. COGS was $1,000. March 31 Depreciation expense of office equipment and furniture worth $2,000 and $1,000 was recognized. March 31 Declared cash dividends of the first three months worth $6,000. Additional information at the closing date: 1. Half of the unearned rent revenue was earned during the current period. 2. Goods from prepaid revenue of previous period were delivered to customer with the cost of goods sold worth $6,000. 3. Rent expense of current period has expired. 4. Insurance expense of current period has expired. 5. The amount of supplies used by the business during the current period was $1,200. 6. Interest expense on notes payable was accrued. 7. Interest revenue on notes receivable was accrued. 8. Goods were delivered to customers. Refer transaction on March 23, 2017. 9. Incurred but unpaid salaries expense worth $8,000. 10. Incurred but unpaid utilities expense worth $2,000. 11. Recognized accrued commission revenue worth $1,800. Requirements: 1. Record all transactions in journal including the adjusting entries. 2. Post all journal entries to ledgers. 3. Prepare an adjusted trial balance as at March 31, 2017