Problem 2: [10 minutes, 5 marks] Learn to Swim, Inc., is a company that provides swimming lessons to all ages. Its unadjusted trial balance at December 31, 2018, follows along with information about selected accounts. Account Name Debit Credit Further Information Cash Supplies $ 23,800 300 Deferred Revenue 1,500 Wages Payable Income Tax Payable Interest Payable Note Payable Contributed Capital Retained Earnings As reported on December 31 bank statement Based on count, only $200 of supplies still exist. of this amount, $500 was received for December lessons and $1,000 for January lessons. Employees were paid $500 for 10 days of work through December 28. They have not yet been paid for work on December 29 and 30. The company has paid last year's income tax but not this year's tax The company has not paid the $100 of interest owed on its note payable for the current period. This one-year note was taken out this year on December 1. This amount was contributed to the company in prior years This is the balance reported at the end of last year. Most customers pay cash for lessons each time they are provided, but some customers pay in advance. Employees worked through December 30, but did not work on December 31. This is the cost of the supplies used through November 30 The company has not paid the $100 of interest owed on its note payable for the current period. The company has an average tax rate of 30 percent. 12,000 1.000 3,000 Lesson Revenue 25,500 1 Wares Expense Supplies Expense 8,100 800 Interest Expense Income Tax Expense Totals . $ 43,000 $ 43,000 Required: Prepare the adjusting journal entries that are required at December 31, 2018. 15 marks]