P3-9A The trial balance before adjustment of Atlantic Tours at the end of its first month of oper- ations follows: ATLANTIC TOURS Trial Balance June 30, 2003 Debit Credit Cash $3,000 Prepaid Insurance 7,200 Office Equipment 1,800 Buses 140,000 Notes Payable $ 62,000 Unearned Fees 15,000 Eldon Kaplan, Capital 70,000 Fees Earned 15,900 Salaries Expense 9,000 Advertising Expense 800 Gas and Oil Expense 1,100 $162,900 $162,900 Other data: 1. The insurance policy has a one-year term that began June 1, 2003. 2. The monthly amortization is $50 on office equipment and $2,300 on buses. 3. Interest of $300 accrues on the notes payable each month. 4. Deposits of $1,500 each were received for advance tour reservations from 10 school groups. At June 30, four of these deposits have been earned. 5. Bus drivers are paid a combined total of $400 per day. At June 30, three days' salaries are unpaid. 6. A senior citizens' organization that had not made an advance deposit took a Coastal tour on June 30 for $1,200. This group was not billed for services rendered until July 3. 7. Additional advertising costs of $500 have been incurred, but the bills have not been received by June 30. (Use an Accounts Payable account.) Instructions (a) Journalize the adjusting entries at June 30, 2003. (b) Prepare a ledger. Enter the trial balance amounts and post the adjusting entries. (c) Prepare an adjusted trial balance at June 30, 2003