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	$	11,800
Accounts Receivable		5,800
Prepaid Rent		2,360
Equipment		20,800
Accumulated DepreciationEquipment				$	1,120
Accounts Payable					1,120
Income Tax Payable					0
Common Stock					24,600
Retained Earnings					1,900
Sales Revenue					49,120
Salaries and Wages Expense		24,800
Utilities Expense		12,300
Rent Expense		0
Depreciation Expense		0
Income Tax Expense		0
Totals	$	77,860		$	77,860

Other data not yet recorded at December 31:

a.	Rent expired during the year, $1,180.
b.	Depreciation expense for the year, $1,120.
c.	Utilities owing, $8,800.
d.	Income tax expense, $370

2.	Prepare the adjusting journal entries required at December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

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.

please steps i just want to understand more