Near the end of its first year of operations, September 30, 2022, Ruff Candy Ltd., a local company that produces dog candy treats and sells fresh dog candy and dog candy making supplies, approached the local bank for a loan and was asked to submit an adjusted trial balance prepared on an accrual basis. Although the company kept no formal accounting records, it did maintain a record of cash receipts and payments. The following information is available for the year ended September 30 : Additional information: a. Revenue from selling candy and product earned but not yet collected amounted to $22,560. b. The candy has a shelf life of 4560 days. c. The candy making equipment was purchased at the beginning of January and has an estimated eight year useful life. The company uses the diminishing balance method at twice the straight line rate. d. Supplies on hand (asset) on September 30 were $1,260. e. Rent payments included a $1,370 per month rental fee and a deposit that is refundable at the end of the two year lease (September 30,2023 ). f. The insurance was purchased on February 1 for a one year period expiring January 31, 2022. g. Salaries earned for the last four days in September and to be paid in October 2022 amounted to $2,950. h. At year end, it was determined that an additional $7,500 is owed for income tax. i. Inventory counted and on hand at September 30 was $20,000. j. On October 1 st, inventory shipped September 25thFOB shipping point was received. The value of the inventory was $35,700. You are a talented Hill School of Business student who is just about to finish BUS 285. Your favorite cousin owns and operates Ruff Candy Ltd. and has asked you to help prepare the information and attend the meeting with the bank. Instructions: 1. What is the company's cash balance? (1 mark) 2. Prepare the entries to record the transactions found in the additional information provided above. Show all necessary calculations. No explanations required. (13 marks) 3. Accumulate all the information you have been provided /cash receipts statement and journal entries) into the t-accounts. T-account sheet provided. 4. Create a good form adjusted trial balance on the accrual basis considering all the information your Cousin has provided. (14 marks)