Question 3 View Policies Current Attempt in Progress The unadjusted trial balance and adjustment data for Ivanhoe Cycle Repair Shop are provided. IVANHOE CYCLE REPAIR SHOP Trial Balance January 31, 2021 Debit Credit Cash $3,800 Accounts receivable 6,930 Prepaid insurance 6,420 Supplies 5.240 Land 60,000 Building 190,000 Accumulated depreciation-building $11,000 Equipment 27,000 Accumulated depreciation-equipment 4.500 Accounts payable 6,500 Unearned revenue 22.250 Mortgage payable 182,600 H. Dude, capital 61,000 H. Dude, drawings 91.100 Service revenue 235,650 Salaries expense 115,300 Utilities expense 12,000 Interest expense 5,710 $523,500 $523,500 Additional information: 1. The 12-month insurance policy was purchased on June 1, 2020. 2. A physical count of supplies shows $1,310 on hand on January 31, 2021. 3. The building has an estimated useful life of 50 years. The equipment has an estimated useful life of 9 years. 4. The mortgage payable has a 6% interest rate. Interest is paid on the first day of each month for the previous month's interest. 5. By January 31, 2021, $1,300 of services related to the unearned revenue have been provided. 6. During the next fiscal year, $4,500 of the mortgage payable is to be paid. Prepare a work sheet for the year ended January 31, 2021. (Round answers to O decimal places, e.g. 5,275.) IVANHOE CYCLE REPAIR SHOP Work Sheet IVANHUE CYCLE REPAIR SHUP Work Sheet Adjustments Income Statement Balance Sheet Account Titles Trial Balance Debit Credit $3.800 Adjusted Trial Balance Debit Credit Debit Credit Debit Credit Debit Credit Cash Accounts receivable 6,930 Prepaid insurance 6,420 Supplies 5,240 Land 60.000 Building 190,000 Accumulated depreciation-building 11.000 Equipment 27,000 Accumulated depreciation equipment 4.500 6,500 Accounts payable Interest payable Unearned revenue Mortgage payable 22,250 182.600 61.000 H. Dude, capital H. Dude, drawings 91,100 Service revenue 235,650 Depreciation expense Insurance expense Interest expense 5,710 Salaries expense 115,300 Supplies expense Utilities expense 12,000 Totals $523,500 $523,500 $ Profit Totals