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Problems P3-1 The trial balance of Sound Advice Company is presented below: Sound Advice Company Trial Balance 31 December 20X3 Account Name Debit Crebit Cash TL 66.000 for Accounts Receivable 33.000 Office Supplies 10.648 Prepaid Rent 5.280 On COM 36.960 TL 6.160 al ayne 23.760 44.000 ny sen th 11.880 Office Equipment Accumulated Depreciation Accounts Payable Notes Payable Unearned Fees Mt. Advice, Capital Mr. Advice, Withdrawals Service Revenues Salaries Expense Rent Expense Transportation Expense 96.008 88.000 ard 290.400 197.600 17.600 17.120 TL 472.208 TL 472.208 The following information is available at the end of 31 December 20x3. 1. The physical count of office supplies at year end revealed TL 1.056 worth of office supplies on har 2. TL 1.760 of prepaid rent expired. 3. Depreciation expense of office equipment was TL 2.640. 4. Fees that had been earned but not yet billed and collected were TL 8.800, 5. Interest expense accrued on the notes payable as of 31 December 20X3 was TL 2.200. 6. TI 4.664 of uneared fees was still not earned as of 31 December 20X3. 7. Accrued salaries at the end of the year amounted to TL 1.320. a) Prepare the adjusting entries. b) Post the adjusting entries to T-accounts (post the beginning balances from the trial balance firs Prepare the adjusted trial balance, the income statement and the statement of financial position Problems P3-1 The trial balance of Sound Advice Company is presented below: Sound Advice Company Trial Balance 31 December 20X3 Account Name Debit Crebit Cash TL 66.000 for Accounts Receivable 33.000 Office Supplies 10.648 Prepaid Rent 5.280 On COM 36.960 TL 6.160 al ayne 23.760 44.000 ny sen th 11.880 Office Equipment Accumulated Depreciation Accounts Payable Notes Payable Unearned Fees Mt. Advice, Capital Mr. Advice, Withdrawals Service Revenues Salaries Expense Rent Expense Transportation Expense 96.008 88.000 ard 290.400 197.600 17.600 17.120 TL 472.208 TL 472.208 The following information is available at the end of 31 December 20x3. 1. The physical count of office supplies at year end revealed TL 1.056 worth of office supplies on har 2. TL 1.760 of prepaid rent expired. 3. Depreciation expense of office equipment was TL 2.640. 4. Fees that had been earned but not yet billed and collected were TL 8.800, 5. Interest expense accrued on the notes payable as of 31 December 20X3 was TL 2.200. 6. TI 4.664 of uneared fees was still not earned as of 31 December 20X3. 7. Accrued salaries at the end of the year amounted to TL 1.320. a) Prepare the adjusting entries. b) Post the adjusting entries to T-accounts (post the beginning balances from the trial balance firs Prepare the adjusted trial balance, the income statement and the statement of financial position