My Courses Greek Tavern Co was established on July 1, 2020 by a cash investment of $100,000. The following is the Trial Balance prepared on September 30, 2020. Account Title Debit Credit Kasti $65.000 Hecounts Receivable 70,000 Supplies 15.000 Prepaid Rent 50.000 Office Equipment 75,000 Recounts Payable 55.000 Uneared Revenue 25.000 Notes Payable 75.000 Owner's Capital 100.000 Owner's Drawings 37.500 Service Revenue 150.000 Salaries and Wages expense 25.000 Commission expense 15.000 Utilities expense 2.500 TOTAL 5355.000 5355.000 During the three month period the following activities Acued. The physical checken 2,500 TOTAL $355,000 $355.000 During the three month period, the following activities occurred: 1. The physical checkup revealed that $4,000 worth of supplies is still on hand on September 30. 2. The annual depreciation of office equipment is $15,000. The equipment were purchased on August 1, 2020. 3. The unearned revenue was created on September 1, 2020 by an advance payment from a major customer for services extending over the period August 1 till December 31, 2020. 4. The loan was borrowed on July 1, 2020 for 5 years from BOND Bank. The bank charges 9% interest. 5. The firm pays its 5 employees a weekly salary of $6250. The policy is that it pays every Monday of the week for the previous 5 days' work, Monday through Friday. September 30, 2020 is a Tuesday. Last time the firm paid salary was on Monday September 29, 2020 for the week from 22 till 25. 6. Rogelio paid $50,000 cash on July 1, 2020 for 2 years' office rent. Rogelio Legal Advisory firm follows the fiscal year extending from July 1 till September 30 and adjust Quarterly. A. Journalize all the necessary adjusting entries on September 30, 2020 showing all the calculations (3 points each entry) B. Compute the Net Income. (7 %)