Question #3 (35 marks) This question is based on an example in Lesson notes # 2.4 RTS began business on December 1, 2015. Its December transactions are: Dec. 1 Invested $40,000 in the business in exchange for common stock. 2 Paid $2,400 cash for December rent. 2 Purchased $2,160 of supplies on account. 3 Purchased $19,000 of office equipment; paying $4,700 cash with the balance due in 30 days. 14 Paid $3,600 cash for assistant's wages for two weeks' work. 20 Performed consulting services for $6,000 cash 30 Billed clients $14,400 for December consulting services 31 Paid $2,800 cash for dividends Required: a. Record these transactions in journal entry form and prepare the unadjusted trial balance. 10 marks b. Journalize the following adjusting entries at December 31: 5 marks 1 Supplies available at December 31 are $1,440.- 2 Accrued wages payable at December 31 are $540 3 Depreciation for December is $240. 4 RTS has spent 30 hours on a tax fraud case during December. When completed in January, his work will be billed at $150 per hour. (Use Fees Receivable) Prepare the adjusted trial balance 8 marks C. Prepare the underlying financial statements of I/S (4 marks) and B/S (8 marks)