Produce a Trial Balance at 30 June (in the corrert order) using the following account balances. All balances are the normal balance of the account. Then answer the questions and produce the journals for the adjusting entries listed after your Trial Balance. Accounts Payable 21,000 Accounts Receivable 9,000 Accumulated Depreciation 25,500 Bad Debt Expense 10,400 Bank Loan - Non current 35,500 Cash at Bank 30,600 Depreciation 20,000 Equipment 55,300 Insurance Expense 4,300 Owners Capital 30,000 Owners Drawings 4,200 Prepaid Rent 8,400 Rent Expense 59,700 Supplies Expense 8,300 Supplies on Hand 2,500 Subscriptions Revenue 100,700 All account descriptions must be exactly as they appear above. Expenses should be in alphabetical order. Do not include punctuation in numerical answers. All boxes must be completed - enter "O" (zero) where there is no other answer. Trial Balance Account Dr Cr 9000 30000 Total Use the trial balance, above, to answer these three questions: What is Total Assets (remember contra accounts) What is Net Profit / Loss Include a negative before your answer to indicate a loss Will Owners Equity increase or decrease? The following items have been identified as needing adjustment Produce the journal in the proforma provided. 1. There were $1,200 Supplies used during of the period Account Dr Cr 2. Unused Prepaid Rent at the end of the period was $6,000 Account Dr Cr 3. The business has been quoted $12,000 for insurance for the period 1 June to 30 November. The invoice has not been received. Take up the expense for June. Account Dr Cr