RENN CO. Trial Balance September 30, 2017 Unadjusted Adjusted Dr. Cr. Dr. Cr. Cash $6,700 $ 6,700 Accounts Receivable 400 900 Supplies 1,200 1.000 Prepaid Rent 1,500 Equipment 15,000 900 15,000 Accumulated Depreciation-Equipment $ 350 Notes Payable $ 5,000 5,000 Accounts Payable 1,510 1,510 Salaries and Wages Payable 600 Interest Payable 50 Unearned Rent Revenue 900 500 Owner's Capital 14,000 14,000 Owner's Drawings 600 600 Service Revenue 14,000 Rent Revenue 400 14,500 800 Salaries and Wages Expense 9,000 9,600 Rent Expense 900 1,500 Depreciation Expense 350 Supplies Expense 200 Utilities Expense 510 510 Interest Expense 50 $35,810 $35,810 $37,310 $37,310 Instructions Problems: Set C 3 (a) Journalize the adjusting entries that were made. (b) Prepare an income statement and an owner's equity statement for the 3 months ending September 30 and a balance sheet at September 30. (c) If the note bears interest at 12%, how many months has it been outstanding? (b) Net income $3,090 Ending capital $16,490 Total assets $24,150