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Please journalize and post adjusting entries Also please prepare a trial Balance for 12/31/22 Information for year-end adjusting entries: - On December 31 , there
Please journalize and post adjusting entriesAlso please prepare a trial Balance for 12/31/22 Information for year-end adjusting entries: - On December 31 , there are $1,000 of office supplies on hand - On December 31, MWP has delivered $4,500 of the merchandise customers had paid for in advance during the year. This merchandise cost MWP $2,800. - MWP borrowed the $60,000 on October 1,2022 . MWP must make annual interest payments each September 30 and pay the full note on September 30,2025 . The interest rate on the note is 6%. - Employees have earned \$2,700 in wages for work done since the last payday (December 24) - The prepaid rent was paid on July 1, 2022, and covers a one-year period starting on July 1, 2022. - The Building has a twenty-year life and a $10,000 salvage value. - The Equipment has a five-year useful life and no salvage value. - December utilities are $290 and will be paid in January - MWP estimates its bad debts at 5% of its accounts receivable balance
Also please prepare a trial Balance for 12/31/22
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