Problem 3-04 The trial balance of Novak Fashion Center contained the following accounts at November 30, the end of the companys fiscal year.

a) Journalize the adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.

b) Prepare an adjusted trial balance.

c) Prepare a multiple-step income statement for the year. (ignore income taxes) (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45)

d) Prepare retained earnings statement for the year

e) Prepare a classified balance sheet as of November 30, 2020

f) Journalize the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.

g) Prepare a post-closing trial balance

Credit NOVAK FASHION CENTER TRIAL BALANCE NOVEMBER 30, 2020 Debit Cash $33,780 Accounts Receivable 37,420 Inventory 48,720 Supplies 9,220 Equipment 140,440 Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Sales Revenue Sales Returns and Allowances 4,200 Cost of Goods Sold 495,400 Salaries and Wages Expense 138,040 Advertising Expense 27,760 Utilities Expenses 15,960 Maintenance and Repairs Expense 12,100 Delivery Expense 16,700 Rent Expense 25,360 Totals $1,005,100 $26,720 54,720 52,220 93,720 11,720 766,000 $1,005,100 Adjustment data: 1. Supplies on hand totaled $5,220. 2. Depreciation is $17,040 on the equipment. 3. Interest of $12,030 is accrued on notes payable at November 30. Other data: 1. Salaries expense is 70% selling and 30% administrative. 2. Rent expense and utilities expenses are 80% selling and 20% administrative. 3. $30,000 of notes payable are due for payment next year. 4. Maintenance and repairs expense is 100% administrative