Quiz Complete the accounting cycle using the adjusted trial balance below. JM PHOTOCOPYING CENTER Adjusted Trial Balance December 31, 2019 Account Title Debit Credit Cash P 16.500.00 Accounts Receivable 7.500.00 Allowance for doubtful accounts P 150.00 Note Receivable 5.527.50 Unused Supplies 3.000.00 Prepaid rent 5.000.00 Photocopying Equipment 30,000,00 Accumulated Depreciation - Photocopying 450.00 Equipment Furniture and Fixtures 5.000.00 Accumulated Depreciation . Fumiture & Fixtures 75.00 Accounts payable 2,500.00 Loan payable 50.000.00 Notes payable 5,000.00 Salaries Payable 816.67 Unearned Photocopying Revenues 1,800.00 Mercado, Capital 10,000.00 Mercado, Drawing 500.00 Photocopying Revenues 24.227.50 Taxes and Licenses Expense 2.000.00 Salaries expense 4.800.00 Supplies expense 7,000.00 Utilities expense 2.500.00 Rent expense 5,000.00 Depreciation Expense 525.00 Bad debts expense 166.67 Totals P 95,019.17 P 95,019.17 Requirements: 1. Prepare Financial Statements: Profit and loss Statement, Statement of changes in Equity and Statement of Financial Position 2. Closing entries: Prepare closing entries in the general journal: 2. Post the