P3.13A (LO 2, 3, 4) AP Fox Enterprises is owned by Edmund Fox and has a January 31 fiscal year end. The company prepares adjusting entries on an annual basis. The following trial balance was prepared before adiustments: Additional information: 1. A one-year insurance policy was purchased on July 1,2020 . 2. A count of supplies on January 31,2021 , shows $920 of supplies on hand. 3. The equipment has an estimated useful life of five years. 4. An analysis of the Unearned Revenue account shows that $5,230 of the services had been provided by January 31,2021. 5. The eight-month, 6% note was issued on November 1,2020 . Interest and principal are due on the maturity date. 6. Salaries accrued to January 31,2021 , were $1,315. 7. On January 31,2021 , the company had provided services but not billed or recorded service revenue of $2,675. 8. The telephone bill for January 2021 was $170. It has not been recorded or paid. (Use the Accounts Payable account.) Instructions a. Prepare adjusting journal entries on January 31 . b. Prepare an adjusted trial balance at January 31 . c. Prepare an income statement and a statement of owner's equity for the year ended January 31 , and a balance sheet as at January 31, 2021 . P3.13A (LO 2, 3, 4) AP Fox Enterprises is owned by Edmund Fox and has a January 31 fiscal year end. The company prepares adjusting entries on an annual basis. The following trial balance was prepared before adiustments: Additional information: 1. A one-year insurance policy was purchased on July 1,2020 . 2. A count of supplies on January 31,2021 , shows $920 of supplies on hand. 3. The equipment has an estimated useful life of five years. 4. An analysis of the Unearned Revenue account shows that $5,230 of the services had been provided by January 31,2021. 5. The eight-month, 6% note was issued on November 1,2020 . Interest and principal are due on the maturity date. 6. Salaries accrued to January 31,2021 , were $1,315. 7. On January 31,2021 , the company had provided services but not billed or recorded service revenue of $2,675. 8. The telephone bill for January 2021 was $170. It has not been recorded or paid. (Use the Accounts Payable account.) Instructions a. Prepare adjusting journal entries on January 31 . b. Prepare an adjusted trial balance at January 31 . c. Prepare an income statement and a statement of owner's equity for the year ended January 31 , and a balance sheet as at January 31, 2021