ONLY NEED PART B

Comprehensive Problem (Part B) Requirement 1 Record the following month end adjusting entries for Bella Construction, Inc. at March 31, 2020. Post the transactions to the T-accounts. Month end adjusting entries at March 31, 2020: 1) Accrued construction revenue at March 31, $7,500. 2) Had $1,100 of supplies on hand at the end of March. 3) Accrued salary expense of $2,680 at March 31 for Monday, Tuesday, Wednesday, and Thursday. The payroll will be paid on the following Friday 4) The equipment has a salvage value of $1,500, with an expected life of 4 years and is depreciated based on the straight-line method. Book depreciation for the month of December. 5) The truck has a salvage value of $3,000, with an expected life of 5 years and is depreciated based on the straight-line method. Book depreciation for the month of March. 6) Accrued interest revenue for the note receivable, $30. 7) Amortize one month of insurance. (Amortize means to show the use of, in which you need to adjust the account) 8) Amortize March's rent that prepaid in February. Requirement 2 Prepare adjusted trial balance for Bella Construction at March 31, 2020. Requirement 3 Prepare the following financial statements; Income Statement, Statement of Retained Earnings, and Balance Sheet. Extra Credit (15 points) Prepare the month end closing entries at March 31, 2020. Comprehensive Problem (Part A) Bella Construction, Inc. had the following beginning balances as of March 1, 2020. Account Amount Account Amount Cash $7,000 Salaries payable $670 Accounts receivable $7,600 Common stock $10,000 Prepaid rent $3,000 Retained earnings $6,930 During the second month of operations, Bella Construction, Inc. completed the following transactions: March transactions: 2 Bella received $65,000 cash and issued common stock to the stockholders 3 Purchased supplies $3,500 and equipment of $32,700 on account. 4 Performed construction services for a client and received $5,700 cash. 5 Paid $2,100 cash for a 12-month insurance policy that began on March 1 7 Paid $39,000 to acquire a business truck on account. 11 Paid $6,700 cash in employee salaries, a portion of which was accrued in prior month. (Hint: look at the current balance in Salaries Payable) 11 Performed construction services for a customer and billed the customer $6,500. Bella expects to collect within one month. 12 issued a note receivable of $5,000 to a client who needed an extension on their invoice due today, that is currently booked in accounts receivable account. The terms are 3 months at 12% interest. (Note-interest will be accounted in Part B) 17 Paid $420 cash for the telephone bill. 18 Received $2,600 payment from customer on account. 22 Paid $340 cash for the water and electricity bills. 23 Paid for the equipment purchased March 3. 25 Paid $6,700 cash in employee salaries. 29 Received $5,500 cash for repairing the pipes of a customer. 29 Paid $3,000 cash for rent due April 5. 30 Declared and paid dividends of $3,500. Requirements 1) Record each transaction in the general ledger, Key each transaction by date. Explanations are required. 2) Post the transactions to the T-accounts, using transaction dates as posting references. 3) Prepare the unadjusted trial balance of Bella Construction, Inc., at March 31, 2020