Rainmaker Environmental Consultants is just finishing its second year of operations. The company's unadjusted trial balance at October 31, 2020, follows: Credit $ Debit 26,000 61,000 e 50,000 5,300 3,400 27,000 84,000 RAINMAKER ENVIRONMENTAL CONSULTANTS Unadjusted Trial Balance October 31, 2020 Acct.No. Account 101 Cash 106 Accounts receivable 109 Interest receivable 111 Notes receivable 126 Supplies 128 Prepaid insurance 131 Prepaid rent 161 Office furniture 162 Accumulated depreciation, office furniture 201 Accounts payable 210 Wages payable 233 Unearned consulting revenue 301 Jeff Moore, capital 302 Jeff Moore, withdrawals 401 Consulting revenue 409 Interest income 601 Depreciation expense, office furniture 622 Wages expense 637 Insurance expense 640 Rent expense 650 Supplies expense Totals $ 28,000 18,000 @ 26,000 223,000 28,000 232,020 480 192,000 44,000 6,800 $ 527,500 $ 527,500 Rainmaker prepares adjustments each October 31. The following additional information is available on October 31, 2020. a. It was determined that $12,000 of the unearned consulting revenue had not yet been earned. b. It was discovered that $14,000 of the balance in the Consulting Revenue account was for services to be performed in November c. The balance in the Prepaid Rent account represents three months of rent beginning September 1, 2020. d. Accrued wages at October 31 totalled $6,800 e. The office furniture was purchased on March 1, 2019, and has an estimated useful life of two years. After two years of use, it is expected that the furniture will be worthless. f. Accrued consulting revenue at year-end totalled $4,200. g. Interest of $85 had accrued on the note receivable for the month of October h. The balance in the Prepaid Insurance account represents the remaining balance of a two-year policy purchased on April 1, 2019 1. A count of the supplies on October 31 revealed a balance remaining of $620. Required: 1. Set up balance column accounts for Rainmaker Environmental Consultants and enter the balances listed in the unadjusted trial balance. (Enter the adjusting values in the order of Transaction i.e., a through i) 101: Cash Debit Credit 106: Accounts Receivable Debit Credit Date Oct 31 (bal) Balance Balance Date Oct 31 (bal) 109: Interest Receivable Debit Credit 111: Notes Receivable Debit Credit Balance Balance Date Oct 31 (bal) Date Oct 31 (bal) Debit Date Oct 31 (bal) 120: Prepaid in Debit Credit Oct 31 (bal) ook int 131: Prepaid Rent Debit Credit 161: Office Furniture Debit Credit Date Oct 31 (bal) Balance ences Date Oct 31 (bal) Balance 162: Accumulated Depreciation, Office Furniture Date Debit Credit Balance Oct 31 (bal) 201: Accounts Payable Debit Credit Balance Date Oct 31 (bal) 210: Wages Payable Debit Credit Balance Date Oct 31 (bal) 233: Unearned Consulting Revenue Date Debit Credit Balance Oct 31 (bal) Date Oct 31 (bal) Oct 31 (bal) 401: Consulting Revenue Debit Credit 409: Interest Income Debit Credit Date Balance Balance Oct 31 (bal) Date Oct 31 (bal) 601: Depreciation Expense, Office Furniture Date Debit Credit Balance Oct 31 (bal) 622: Wages Expense Debit Credit Balance Date Oct 31 (bal) 637: Insurance Expense Debit Credit 640: Rent Expense Debit Credit Balance Balance Date Oct 31 (bal) Date Oct 31 (bal) 650: Supplies Expense Debit Credit Date Balance New Tab IC Login / Condo Ca.. Security & Concie eview Problems up to Ch 5 (L06) 650: Supplies Expense Debit Credit Balance Oct 31 (bal) 2. Complete the following T-Account with the adjusting entries for October 31, 2020. 101: Cash 106: Accounts Receivable Adj Bal Oct 31 0 Adj Bal Oct 31 0 100. Problems up to Ch 5 (L06) 109. Interest Receivable Adj Bal Oct 31 0 Adj Bal Oct 31 0 126: Supplies 128: Prepaid Insurance Adj Bal Oct 31 0 Adj Bal Oct 31 0 131: Prepaid Rent 161: Office Furniture Adj Bal Oct 31 0 Adj Bal Oct 31 0 162: Accum. Deprec., Office Furniture 201: Accounts Payable view Problems up to Ch 5 (L06) 6 210. Wacaa Payable 233: Unearned Consulting Revenue Adj Bal Oct 31 0 Adj Bal Oct 31 301: Jeff Moore, Capital 302: Jeff Moore, Withdrawals Adi Bal Oct 31 0 Adj Bal Oct 31 0 401: Consulting Revenue 409: Interest Income Adj Bal Oct 31 Adj Bal Oct 31 0 601: Deprec. Expense, Office Furniture 622: Wages Expense