Marketing Consulting Service Bhd. adjusts its accounts at the end of each month. The unadjusted trial balance on 31 December, 2019 . MARKETING CONSULTING SERVICE BHD. Unadjusted Trial Balance 31 December , 2019 Account Name Debit Credit Cash RM 24,550 Consulting fees receivable 11,700 Prepaid office rent 3,150 Prepaid dues and subscriptions 150 Supplies 300 Equipment 18,000 Accumulated depreciation equipment $ 5,100 Notes payable 2,500 Income taxes payable 6,000 Unearned consulting fees 2,975 Capital stock 15,000 Retained earnings 16,350 Dividends 30,000 Consulting fees earned 128,590 Salaries expenses 44,410 Telephone expenses 1,275 Rent expenses 11,000 Income taxes expenses 25,500 Dues and subscription expenses 280 Supplies expenses 800 Depreciation expenses equipment 3,300 Miscellaneous expenses 2,100 176,515 176,515 Additional information about transaction not recorded yet on December 2019 is provided as follows: 1. Office rent each month is RM1050. 2. The Company has a three month subscriptions in marketing magazine starting from 1 December 2019. 3. Based on a physical count, the balance of supplies inventory is RM225. Page 2 of 5 CONFIDENTIAL 202004/ACC111 4. The depreciation for the equipment is RM300 each month. 5. Based on an agreement with a bank, a RM50 interest is due on 31 December 2019 6. The Company performed a consulting job for RM1425 for Major company that Paid RM2975 in advance. 7. Outstanding Salaries for December 2019 is RM850. 8. Income taxes expense is RM2500. Required: 1. Record adjusting entries for 31 December 2019. (13.5 MARKS) 2. Prepare an adjusted trial balance of Marketing Consulting Service Bhd. on 31 December, 2019. (16.5 MARKS)