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Question Two: Read the following transactions related to Inter Company: (90 Points) Inter Company was founded in Dec 2018. Inter Company provides sports services to

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Question Two: Read the following transactions related to Inter Company: (90 Points) Inter Company was founded in Dec 2018. Inter Company provides sports services to customers. Below is the Company's trial balance as of Dec 31, 2018. An Analysis of the transactions shows the following: 1- The Equipment is being depreciated at $600 per quarter. 2- \$1,500 of unearned revenue has been earned during 2018. 3- Interest of $200 was accrued on Dec 31, 2018. 4- Services performed but not recorded on Dec, 31 were $600. Answer the following: 1- Prepare Adjusting entries and post them to the related T-Accounts. (24 points) Note: The Company prepares its adjusting entries on a monthly basis. 2- Post into the related T-Accounts. (10 points) Note: Use the provided T-Accounts 3- Prepare the Adjusted Trial Balance as of Dec 31, 2018. (16 points) 4- Prepare the Closing entries as of Dec 31, 2018. (21 points) 5- Post to the related T-Accounts (only income summary and Retained Earnings). (6 points) 6- Prepare a Post-Closing Trial Balance. (13 points)

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