Page 3 of 5 You are helping Frances Ltd. to prepare any SECOND QUARTER-end adjusting/cor The unadjusted trial balance is below recting journal entries. FRANCES LTD. Unadjusted Trial Balance June 30, 2018 Account Cash Accounts receivable Allowance for doubtful accounts Inventory Notes receivable Bank loans Accounts payable Unearned sales revenue Common shares Retained earnings Dividends Sales revenue Interest revenue Cost of goods sold Rent expense Salaries and wages expense Property tax expenses Interest expense Utilities expense Total Debit Credit $5,300 33,900 $1,500 19,000 25,000 20,000 7,950 4,100 6,900 28,366 17,000 240,768 750 96,224 54,000 54,510 3,000 1,300 1,100 310,334 $310,334 Continued Page 4 of Q43 Required: Based on the information above and additional information provided belo adjusting and correcting entries at June 30, 2018 for Frances Ltd. w, prepare all necessary ate any assumptions needed (if no adjustment is needed, state why) - Show all calculations. Additional information relating to the SECOND QUARTER OF 2018 a) After some analysis, management informs you that the Unearned Sales Revenue account should have a balance of $6,100. b) No entry has been made for salaries for the last week of June (estimated at $5,000) since they will not be paid until July 7 c) You find an error in that a customer invoice (still unpaid) was recorded for $959 instead of $599. No adjustment has yet been made. Property taxes of $1,500 for the third quarter of 2018 was paid for and recorded in June. Management has been going over the list of accounts receivable for possible accounts that are not d) e) collectible. One account for $200 still needs to be written off f) An analysis of the ending adjusted accounts receivable (ie. factoring in a management reveals that 7% of this balance is expected to be uncollectible. should reflect this fact. (Hint: remember to recalculate your accts receivable and lowance a account first adjusting for (a)-(e) above.) uncollectible. The allowance account s receivable and allowance