1. Prepare the unadjusted trial balance as of March 31,2021 using the account balances from Accounting Project Part 2.
2. Prepare the year-end adjusting entries based on the nine items provided below.
3. Prepare the adjusted trial balance as of 12/31/21.
4. Submit your EXCEL file in D2L.

1 The CFO has determined that the allowance for doubtful accounts balance should be 5% of total year sales. Total year sales were $ 9,825,000 Note: Jan through March $ 4,425,000 April through December $ 5,400,000 (see entry #9 below) $ 9,825,000 2 Insurance expense for the year was $ 100,000 Note: Prepaid Insurance should have a zero balance after adjustment #2 is posted. 3 The depreciation expense of $ 225,000 for equipment needs to be recognized. 4 The depreciation expense of $ 42,500 for building needs to be recognized. 5 The mortgage payment of $ 70,000 needs to be paid on 12/31/21. Note: The principal amount is $ 30,000 Note: The interest amount is $ 40,000 6 Salary expense has not been recognized from April through December Salary expense for the nine month period was Cash paid for the salaray expense during the nine month period was $ 490,000 $ 490,000 7 The long-term debt payment of $ 250,000 needs to be paid on 12/31/21. Note: The principal amount is $ 75,000 Note: The interest amountis $ 175,000 8 Inventory purchases during the back half of the year totaled $ 3,000,000 As of December 31, 2021 we were provided the following information for the April through December inventory purchases. Cash paid Accounts payable remaining balance on these purchases is $ 2,600,000 $ 400,000 9 Sales from April through December were not accounted for: As of December 31, 2021 we were provided the following information for the April through December sales. Sales $ 5,400,000 Accounts Receivable $ 1,000,000 Cash received $ 4,400,000 COGS $ 2,100,000 Fiscal Year 2021 Transactions Credit Month January Day 15 J1 Account Descriptions Accounts Receivable COGS Sales Revenue Inventory $ S S Debit 650,000 275,000 S $ 650,000 275,000 J2 January 30 $ $ 2,125,000 812,500 Accounts Receivable COGS Sales Revenue Inventory 2,125,000 812,500 J3 w January 31 S Salaries Expense Cash 42,000 $ 42,000 14 February 12 Cash S 650,000 Accounts Receivable $ 650,000 15 February 17 S 1,000,000 Inventory Accounts Payable S 1,000,000 J6 February 28 S Salaries Expense Cash 42,000 $ 42,000 17 March N 2 Cash S 2,125,000 Accounts Receivable $ 2,125,000 00 March 10 un Accounts Payable Cash 1,000,000 $ 1,000,000 19 March 25 $ S Accounts Receivable COGS Sales Revenue Inventory 1,650,000 750,000 $ $ 1,650,000 750,000 J10 March 31 S Salaries Expense Cash 42,000 $ 42,000 Assets Cash Balance-to-date Cash $ 750,000 Beg $ 750,000 $ 708,000 $ 42,000 3 S 1,358,000 4 $ 650,000 S 1,315,000 $ 42,000 16 $ 3,441,000 17 $ 2.125,000 $ 2,441,000 $1,000,000 J8 $ 2,399,000 $ 42,000 110 Accounts Receivable Balance-to-date Accounts Receivable $ 450,000 Beg $ 450,000 $ 1,100,000 J1 $ 650,000 $ 3,225,000 12 $ 2,125,000 $ 2,575,000 $ 550,000 14 $ 450,000 $2,25,000 17 $ 2,100,000 19 $1,650,000 Inventory Balance-to-date Inventory $1,200,000 Beg $ 1,200,000 $ 925,000 $275,00 11 $ 112,500 $81250 12 $1,112,500 5 $ 1,000,000 $352,500 $750,00 9 Prepaid Insurance Beg $ 100,000 Allowance for Doubtful Accounts 1$ 1,00 Beg Equipment Beg $ 4500,000 Accumulated Depreciation - Equipment $ 1,350,000 Beg Building Beg $ 850,000 Accumulated Depreciation - Building $ 30,000 Beg Land Beg $ 1,100,000