North Star prepared the following unadjusted trial balance at the end of its second year of operations ending December 31.

Account Titles	Debit			Credit
Cash	$	12,500
Accounts Receivable		6,500
Prepaid Rent		2,500
Equipment		21,500
Accumulated DepreciationEquipment				$	1,050
Accounts Payable					1,050
Income Tax Payable					0
Common Stock					25,300
Retained Earnings					2,600
Sales Revenue					51,500
Salaries and Wages Expense		25,500
Utilities Expense		13,000
Rent Expense		0
Depreciation Expense		0
Income Tax Expense		0
Totals	$	81,500		$	81,500

Other data not yet recorded at December 31:

a.	Rent expired during the year, $1,250.
b.	Depreciation expense for the year, $1,050.
c.	Utilities owing, $9,500.
d.	Income tax expense, $440.

3. Summarize the adjusting journal entries in T-accounts. After entering the beginning balances and computing the adjusted ending balances, prepare an adjusted trial balance as of December 31 Prepaid Rent Rent Expense Beg. Bal. Beg. Bal End. Bal. End. Bal Accumulated Depreciation-Equipment Depreciation Expense Beg. Bal. Beg. Bal End. Bal. End. Bal. Accounts Payable Utilities Expense B. al. End. Bal. End. Bal. Income Tax Payable ncome lax Expense Bg. Bl. End. Bal. End. Bal