Quesion $1$

Prepare a trial balance as of February $292024.$

Question $2$

Use the trial balance in question $1$ for the following adjustments.

$1.$ Insurance is N$$100$ per month.

$2.$ Salaries expense was only paid for ten months.

$3.$ The rent was not paid for the last two months.

$4.$ Stationery on hand amounted to N$$300.$

$5.$ Telephone expenses were paid until April $302024.$

$6.$ For sales worth N$$5,000,$ goods will only be delivered to the customer on April $302024.$

$7.$ ABC estimated that $1\%$ of its customers might not settle their accounts on February $29,2024.$

$8.$ Depreciation for January and February $2024$ was overcharged by N$$500.$

$9.$ Interest on loans for February $2024$ was N$$50.$

$10.$ Electricity was paid until October $312024.$

Required:

a$)$ Prepared adjusting journals as of February $292024.$ Narration is not needed. $20$

b$)$ Prepare an adjusted trial balance as of February $292024.$