Prepare adjusting entries and adjusted trial balance

Sheet1 Sheet2 Sheet3 Big Serve Racquet Club, Inc. Trial Balance at December 31, 2017 Unadjusted T/B ccount Debit ash 50,300 rtificate of deposit ccounts receivable nventory 63.000 170,000 5,000 paid insurance 100,000 400,000 100,000 quipment ccounts payable nearned revenue Notes pavable ommon stock etained earnings lembership revenue ost of sales Vages expense 395.000 110,000 55,00 es expense $1,457,500 The following additional information is provided . Paid S1,200 on 3/31/2017 for a one-year fire insurance policy 2 Received $25,000 upon issuance of common stock Received a S6,000 payment on November 1,2017 for a six month club membership 4. Borrowed $120,000 at 5% on October 1, 2017. Interest and principal are due on 4/1/19. According to payroll records, unpaid wages at year end totaled $15,000 6. Big Serve's building has a 10-year estimated useful life. The fixtures and equipment have a 5-year estimated useful life 7, Big Serve purchased a six-month certificate of deposit (CD) on July 1, 2017, The interest rate was 3% Accrued interest is added to the CD balance. 8 Physical count of supplies on hand at 12/31/17 showed a balance of $3,600 Received a $1,800 bill for December utilities on January 3, 2018. A physical count of inventory showed a balance of $172,000 Declared and paid a $15,000 dividend The tax rate was 21%. 0. 2