Problem 2-9 (Algo) Accounting cycle; unadjusted trial balance through closing [ LO2-4, 2-6, 2-8] The unadjusted trial balance as of December 31,2024 , for the Bags Consulting Company appears below. December is the company's reporting year-end. Information necessary to prepare the year-end adjusting entries appears below. a. The buildings have an estimated useful life of 50 years with no salvage value. The company uses the straight-line depreciation method. b. The office equipment is depreciated at 10 percent of original cost per year, c. Prepaid insurance expired during the year, $1,600. d. Accrued salaries at year-end, $1,250. e. Rent to customers who paid in advance has been provided for $7,500. Required: 1. From the trial balance and information given, prepare adjusting entries. 2. Post the beginning balances and adjusting entries into the appropriate T-accounts. 3. Prepare an adjusted trial balance. 4. Prepare closing entries. 5. Prepare a post-closing trial balance. 1 The buildings have an estimated useful life of 50 years with no salvage value. The company uses the straightline depreciation method. 2 The office equipment is depreciated at 10 percent of original cost per year. 3 Prepaid insurance expired during the year, $1,600. 4 Accrued salaries at year-end, $1,250. 5 Rent to customers who paid in advance has been provided for $7,500. Prepare an adjusted trial balance. repare closing entries. lote: If no entry is required for a transaction/event, select "No jou 1 Close the revenue accounts using Retained Earnings. 2 Close the expense accounts using Retained Earnings. Prepare a post-closing trial balance