Pavle James owner of Wollongong Dance Studio, employed you to prepare yearly financial statements for the year ended 30 June 2021. At year end, the unadjusted account balances of Wollongong Dance Studio are as follows: Wollongong Dance Studio Trial Balance as at 30 June 2021 Debit Credit Cash at Bank $100,000 Account Receivable 75,000 30,000 14,000 Prepaid Advertising Supplies Training Equipment Mortgage Payable 250,000 $105,000 Unearned Revenue 20,000 Loan Payable 50,000 Salaries Expense 70,000 Service Revenue 268,000 P. James, Capital 96,000 TOTAL $539,000 $539,000 Additional information: 1. Prepaid advertising represents a one-year premium paid on 1 March 2021. 2. Supplies on hand at the end of the year amounted to 3,800. 3. Training Equipment is expected to last 7 years and with no residual value. It was purchased on 1 May 2021. 4. Accrued salaries at 30 June were $10,000. 5. The amount of revenue received in advance that remains unearned at 30 June is $3,800. Required: a) Record the necessary adjusting entries in the general journal. Include narrations. (12 marks) b) Discuss the amount Wollongong Dance Studio needs to record on their Statement of Financial Position for the following accounts as at 31 June 2021: i. Prepaid Advertising (1 mark) ii. Salaries Expense (1 mark) iii. Accumulated Depreciation (1 mark)