Now that all of Josh's Landscape Service March transactions have been recorded, posted and you have an Unadjusted Trial Balance that is in balance, it is time to complete the Accounting Cycle. First, we will look at the Balance Sheet accounts and see if any of them need adjustments. We discover that since time has passed some of them do need to be updated as follows: 1. Depreciation of $1,000 needs to be recorded for the Equipment that is owned. 2. Prepaid insurance needs to be adjusted for the portion that has expired for the month of March. 3. Supplies that we still own and have not been used amount to $400. 4. Our billing clerk was out sick and bills for work performed March 16-31 have not been sent out totaling $16,775. The billing clerk will send these out in April when she returns to work. 5. We started the landscaping job and have earned 45% of the down payment that we received in March. 6. The part time college student has worked 29 hours @ $10 per hour in March but the next pay date is not until April. Your assignment for this problem is as follows: 1. Journalize and post the required adjusting entries as described above (you will need additional T-accounts that were not used in the Chapter 2 problem). 2. Prepare an Adjusted Trial Balance. 3. Prepare an Income Statement, Statement of Owner's Equity, and a Balance Sheet for March. 4. Assume March was the last month of the year. Journalize and post the closing entries to prepare the nominal accounts for the new fiscal year. 5. Prepare a Post-Closing Trial Balance to ensure that all nominal accounts have been closed correctly.