Question 3 (20 points] Please enter the following information, taken at month-end, in the trial balance by entering the letter (on the left) and amount (on the right) of each adjustment in the 'Adjustments' column, for the appropriate accounts. Then fill in the 'Adjusted Trial Balance' column with the balances of each account. Interest of $100 on notes receivable is unrecorded and unpaid. Interest of $340 has accrued on a note payable but is unrecorded. Southgate Inc. purchased equipment at the start of the month. The equipment cost $72,000 and is expected to have a residual value of $13,500 at the end of its five-year life. A review of the $10,000 unadjusted balance in the prepaid insurance account shows a remaining balance of $4,100 at the end of the month. The monthly depreciation on the building is $400. Of the consulting fees Southgate Inc. received in advance, $3,100 has been earned. Wages of $8,000 have been earned by Southgate Inc.'s employees but have not yet been paid. The monthly depreciation on the furniture is $290. Adjusted Trial Balance Dr. Cr. Adjustments Dr. Cr Southgate Inc. Trial Balance December 31, 2014 Unadjusted Trial Balance Account Dr. Cr. Accounts payable 200 Accumulated depreciation, building, 9,600 Accumulated depreciation, equipment 16,400 Accumulated depreciation, furniture 30,000 Building 41,400 Cash 106,020 Consulting revenue earned 3,800 Depreciation expense, building. 0 Depreciation expense, equipment 0 Depreciation expense, furniture 0 Equipment 72,000 Furniture 39,500 Insurance expense 1,800 Interest earned 6,700 Interest expense 12,400 Interest payable 0 Interest receivable 0 Notes receivable 12,500 Prepaid insurance 10,000 320 Retained earnings Salaries expense 7,500 0 Salaries payable Share capital 215,600 13,500 Short-term notes payable 7,200 Unearned consulting revenue 200 Utilities expense 303,320 303,320 Totals