Question 3 125 marks) The unadjusted trial balance for Metro Inc. appears below as of December 31, 2018 Unadjusted Trial Balance December 31, 2018 Debit Credit $95,500 6,000 15,000 3,000 40,000 Accounts receivable Prepaid insurance Accrued revenue Supplies Equipment Accumulated depreciation equipment Accounts payable Note payable Unearned service revenue Common shares Retained earnings Dividends Service revenue Salary expense Utilities expense Rent expense Advertising expense Interest expense $4,000 21,000 40,000 10,500 45,250 12,000 5,000 44,600 7,200 1,200 5,250 2,200 $180,350 $180.350 Additional data is as follows: (a) Unearned service revenue earned during the year amounts to $8,500. (b) Depreciation for the current year amounts to $4.000. C) Prepaid insurance (515,000) consists of a policy purchased on Jan. 1. 2018 for a 15 months coverage. (d) Supplies used during the current year amount to $2,400 (e) Accrued salaries on December 31, 2018, amount to $2,500 () The utility invoice for Dec, 2018, was not received as yet. The estimated invoice amount is $400. () As part of the lease agreement for the rent of space, Metro must pay the landlord 10% of revenue as additional rent. This amount has not been accounted for as yet. (h) The 2-year note payable related to a loan from the bank. The loan was made on April 1, 2018, and the annual interest rate was 12%. No payment of interest or principal was made in the year. (0) Metro provided service for a customer in December. The work was not yet completed, but as at vear end 58.000 has been earned. An invoice will be issued in the new year when the work is completed. (In November, 2018, the company purchased newspaper advertising space. The contract called for three advertisements, one in each of the three months starting in December, 2018. The company debited Advertising expense when it paid the 3 month cost of $2,200. Adv exp Required: 2200 Record all the adjusting entries' required based on the additional information