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Please show all supporting computations. Points will be deducted if you do not show your work. 1. Presented below is the unadjusted trial balance for Steven's Industries: Steven's Industries Trial Balance Credit Debit $ 6,000 18.000 S 500 5.000 2.000 84.000 Cash. Accounts Receivable Allowance for Doubtful Accounts Inventory Supplies..... Equipment Accumulated Depreciation - Equipment. Notes Payable.. Accounts Payable. Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Salaries Expense Insurance Expense Advertising Expense 15,000 20.000 11.000 25.000 31,500 188,500 125.500 48,000 1,500 1.500 $291.500 $291.500 a. Prepare adjusting entries for the year for each of the following items: (3 points) 1) Equipment is depreciated using the straight-line method and a 7-year useful life (no salvage value). 2) The interest rate on the Notes Payable is 4%. One month's interest is owed on the note. 3) Salaries owed not yet paid total $1,460. 4) Insurance still unexpired at the end of the year $850. 5) Supplies remaining on hand are $450. 6) An analysis of the balance in the Accounts Receivable account indicates that a total of $650 of the $18,000 year-end balance will not be collected. Entry # Account Titles Debit Credit b. Prepare a reversing entry for each of the above items where appropriate: (2 points) Entry # Account Titles Debit Credit