Parta Three years ago, Saiqa Qureshi organized Qureshi Realtors. At July 31, 2020, the end of the current year, the unadjusted trial balance of Qureshi Realtors appears as shown below, Qureshi Realtors Unadjusted Trial Balance July 31, 2020 Description Debit Credit Cash 3,425 Accounts Receivable 7,000 Supplies 1,270 Prepaid Insurance 620 Office Equipment 51.650 Accumulated Depreciation Office Equipment 9,700 Accounts Payable 925 Wages Payable 0 Unearned Fees 1,250 T. Roderick, Capital 29,000 T. Roderick, Drawing 5,200 Fees Earned 59,125 Wages Expense 22,415 Depreciation Expense 0 Rent Expense 4,200 Utilities Expense 2.715 Supplies Expense 0 Insurance Expense 0 Miscellaneous Expense 1,505 100,000 100.000 Best of Luck FATIMA JINNAH WOMEN UNIVERSITY BUSINESS ADMINISTRATION DEPARMENT The data needed to determine year-end adjustments are as follows: a, Supplies on hand at July 31, 2020, R. 380. b. Insurance premiums expired during the year, Rs. 315. c. Depreciation of equipment during the year, Rs. 4,950, d. Wages accrued but not paid at July 31, 2020, Rs. 440, e. Accrued fees earned but not recorded at July 31, 2020, Rs. 1,000. f. Unearned fees on July 31, 2020, Rs.750. Instructions: 1. Prepare the necessary adjusting journal entries. Include journal entry explanations, 2. Determine the balance of the accounts affected by the adjusting entries, and prepare an adjusted trial balance. Part b Saiqa Qureshi Graphics is an arts and design accessing firm. Ayesha Javed, its treasurer and Vice president of finance, has prepared a classified balance sheet as of August 31, 2020, the end of its fiscal year. This balance sheet will be submitted with Saiqa Qureshi Graphics' loan application to Yasmin Pak China Savings Bank In the Current Assets section of the balance sheet, Ayesha reported a Rs. 750,000 receivable from Riaz Ahmed Qureshi, the president of Saiqa Qureshi Graphics, as a trade account receivable. Riaz Ahmed Qureshi borrowed the money from Saiqa Qureshi Graphics in November 2018 for a down payment on a new home. He has orally assured Ayesha Javed that he will pay off the account receivable within the next year. Ayesha reported the Rs. 750,000 in the same manner on the preceding year's balance sheet. Evaluate whether it is acceptable for Ayesha Javed to prepare the August 31, 2020 balance sheet in the manner indicated above