Pumpkin Patch Ltdretails children's clothing.It's Trial Balance as at31 December2019 was as follows:

Account

DR

CR

Cash

250,000

Accounts Receivable

4,000,000

Allowance for Doubtful Debts

100,000

Inventory

3,100,000

Prepaid Insurance

230,000

Term Deposit

100,000

Vehicles

1,500,000

Accumulated Depreciation - Vehicles

300,000

Buildings

15,000,000

Accumulated Depreciation - Building

750,000

Accounts Payable

750,000

Unearned Rent Revenue

600,000

Mortgage

3,500,000

Capital

15,100,000

Retained Profits

120,000

Sales Revenue

11,000,000

Cost of Goods Sold

4,750,000

Advertising Expense

900,000

Electricity Expense

250,000

Wages Expense

2,250,000

Total

$31,220,000

$31,220,000

Additional Information:

1.Yearly insurance was renewed on 1 October 2019 for $140,000. 3month

2.Advertising was paid on1 August2019 for a6-monthtelevision campaign.5month

3.Rent was received by Pumpkin Patch on 1 Dec 2019 for 3 months.

4.Goods paid for but not delivered at 31 December 2019 totalled $25,000.

5.Interest earned on the term deposit totalled $5,000.It will be paid on 31 Jan 2020.

6.Wages not yet paid at 31 Dec 2019 totalled $150,000.

7.Vehicles are depreciated using 20% reducing balance.

8.Buildings are depreciated using 5% straight line.

Required:

Prepare any necessary balance day adjustment general journal entries as at 31 Dec 2019.