Office Equipment The accountant for Mollie's Market, Inc. prepared the following trial balance August 31, 2020, ather one month of operations Cash Debit Credit Accounts Receivable S 20.900 Supplies 4.400 Unexpired Insurance 4.800 2,000 Account payable. 18.000 Unearned Consulting Fees 3,300 Note payable 3.200 Capital Stock 12.000 Retained Earnings. August 1, 2020 15.500 Dividends 0 Consulting Fees Eamed 3.200 31.000 Salaries Expense 7.600 Utilities Expense 1,600 Rent Expense 2.000 Supplies Expense 500 565.000 S65,000 Additional information items: a Consulting services rendered to a client in August, not yet billed or recorded, $2,300 b Unexpired insurance was purchased for 5 months. Portion of the insurance policy expired in August, 400 C Income taxes expense for August amounted to $2.400 D The office equipment has a life of 5 years E. Office supplies on hand August 31. amounted to $3,600 F. Salaries earned by employees during the month of August but not yet recorded amounted to $2,100 G. On August 1, 2020 the company borrowed money from the bank by signing a note for $12,000, 10% and 24 months (2 years) note payable. The entire note plus 24 months interest is due on July 31, 2022 H $1.200 of the Unearned consulting Fees were cared during the month of August as the company performed consulting service for clients that had made payment in advance. Instructions: (a) Prepare adjusting entries for A through H. (b) Prepare the company's adjusting trail balance dated August 31, 2019 (C) Show the effect of transactions that is (Increase = 1, Decrease =D and Not Effect NE) for Athrough H after the adjustment have been made using the following format Balance sheet Asset - Liability + Owners Equity Income Statement Revenue - Expenses Net Income (D) Prepare the income Statement (E) Close All Temporary Accounts by joumalizing and posting (F) Prepare the statement of Retained Earnings (G) Prepare the post closing Trail Balance Evaluate: Profitability & Liquidity