P2.7 (LO 3, 4) (Adjusting Entries and Financial Statements) Rolling Hills Golf Inc. was orga- nized on July 1, 2025. Quarterly financial statements are prepared. The unadjusted trial balance and adjusted trial balance on September 30 are as follows. Rolling Hills Golf Inc. Trial Balance September 30, 2025 Unadjusted Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Salaries and Wages Payable Adjusted Dr. Cr. Dr. Cr. $ 6,700 $6,700 400 1,000 1,800 900 1,200 180 15,000 15,000 $ 350 $ 5,000 5,000 1,070 1,070 600 50 800 14,000 0 Interest Payable Unearned Rent Revenue 1,000 Common Stock 14,000 Retained Earnings 0 Dividends 600 600 Service Revenue 14,100 14,700 700 Rent Revenue 900 Salaries and Wages Expense 8,800 9,400 Rent Expense 900 1,800 Depreciation Expense 350 Supplies Expense 1,020 Utilities Expenses 470 470 Interest Expense 50 $35,870 $35,870 $37,470 $37,470 Instructions a. Journalize the adjusting entries that were made. b. Prepare an income statement and a retained earnings statement for the 3 months ending September 30 and a classified balance sheet at September 30. c. Identify which accounts should be closed on September 30. d. If the note bears interest at 12%, how many months has it been outstanding?