Problem Scott Wallace, owner of Wallace Consulting Group, prepared a trial balance listed on the attached work sheet Account Title Trial Balance Debit Credit 1050 000 280 000 1 5 O 00 120 000 21 010 000 380 000 22 00 00 19|44|0|00 Cash Accounts Receivable Office Supplies Prepaid Insurance Office Equipment Accum. Depr.-Office Equipment Accounts Payable Salaries Payable Scott Wallace, Capital Scott Wallace. Drawing Service Revenue Salaries Expense Rent Expense Advertising Expense Telephone Expense Office Supplies Expense Insurance Expense Depr. Expense-Office Equipment Miscellaneous Expense 2670 000 82 910 000 2460 000 148 00100 2500100 189 01100 135 000 FOR 3 260000 Adjustment data: (a) Office supplies on hand, $450 (b) Insurance expired during the year, $1,025 (c) Depreciation of office equipment, $1,150 (d) Unpaid salaries at year end, $280 Directions: 1. Complete the work sheet for the year ended December 31, 20X1. 2. Journalize adjusting and closing entries