please see attached problem

XYZ Company
Trial Balance
December 31, 2015
Account	Debit	Credit
Cash	$ 43,500
Accounts Receivable	53,500
Allowance for Doubtful Accounts	1,500
Notes Receivable	30,000
Merchandise Inventory	55,000
Land	20,000
Building	150,000
Accumulated Depreciation, Building		$ 15,000
Equipment	50,000
Accumulated Depreciation, Equipment		21,000
Goodwill	26,000
Accounts Payable		25,000
Long-Term Notes Payable		75,000
Common Stock, $10 par, 2,000 shares authorized and outstanding		20,000
Retained Earnings		147,000
Sales Revenue		700,000
Salaries Expense	150,000
Utilities Expense	3,500
Cost of Goods Sold	350,000
Administrative Expenses	55,000
Sales Expenses	15,000	_______
Totals	$1,003,000	$1,003,000

Omit all general journal entry explanations. Be sure to include correct dollar signs, commas, underlines, and double-underlines where required. XYZ Company's December 31, 2015, trial balance is as follows: XYZ Company Trial Balance December 31, 2015 Account Cash Accounts Receivable Allowance for Doubtful Accounts Notes Receivable Merchandise Inventory Land Building Debit $ 43,500 53,500 1,500 30,000 55,000 20,000 150,000 $ 15,000 Accumulated Depreciation, Building Equipment Accumulated Depreciation, Equipment Goodwill Accounts Payable Long-Term Notes Payable Common Stock, $10 par, 2,000 shares authorized and outstanding Retained Earnings Sales Revenue Salaries Expense Utilities Expense Cost of Goods Sold Administrative Expenses Sales Expenses Totals Credit 50,000 21,000 26,000 25,000 75,000 20,000 147,000 700,000 150,000 3,500 350,000 55,000 15,000 $1,003,0 00 XYZ is a small company and records adjusting entries and closing _______ $1,003,0 00 a b c d e f g h i j k entries only at fiscal (calendar) year end. Correcting and adjusting entries have not been recorded. Additional Information: Notes Receivable is a 3-month, 6% note accepted on November 1, 2015. Long-Term Notes Payable is a 5-year, 5% note that was signed on July 1, 2015. Interest is payable annually. Building is depreciated at 3% per year. There is no salvage value. Equipment is depreciated at 15% per year. There is no salvage value. XYZ discovered, on December 30, that the inexperienced bookkeeper recorded in the general journal and general ledger that day's $1,500 cash sales as a debit to Accounts Receivable and a credit to Sales Revenue. The year-end physical count for Merchandise Inventory reflected a value of $51,500. Any difference in value will not be considered theft or loss. Salaries for the last half of December, payable in January, amount to $5,500. XYZ estimates that of the Accounts Receivable, 5% will not be collectable. Required: Prepare in journal form, any required correcting entries. Prepare in journal form, all end-of-the-period adjusting entries. Prepare a December adjusted trial balance. Prepare a classified balance sheet for the year ended December 31, 2015. Prepare in journal form, the closing entries for the year ended December 31, 2015