reparation of Adjustments on a Spreadsheet for a Merchandising Business: Periodic Method The trial balance for the Venice Beach Kite Shop, a business owned by Molly Young is shown in the End-of-period Spreadsheet. Year-end adjustment information: (a, b) A physical count shows that merchandise inventory costing $85,000 is on hand as of December 31,20 (c, d, e) Young estimates that customers will be granted $5,700 in refunds of this year's sales next year and the merchandise expected to be returned will have a cost of $4,300. (f) Supplies remaining at the end of the year, $3,300. (9) Unexpired insurance on December 31,$3,800. (h) Depreciation expense on the bulding for 20,$12,500. (i) Depreciation expense on the store equipment for 20,$5,000. (5) Unearned rent revenue as of December 31,$4,500. (k) Wages earned but not paid as of December 31,$3,500. Required: 1. Complete the Adjustments columns. 2. Complete the spreadsheet. 2 more Check My Work uses remaining 3. Enter the adjustments in a general journal. Assignment/takeAssignmentMain.do ?invoker = \&takeAssignmentSessionlocator=\& inprogress=fa more Check Ay Work uses remaining 1 more Check My Work uses remaining 2Assignment/takeAssignmentMaindo?invoker= QtakessignmentSessionLocator= \&uinprogress=false Purchases Discounts Freight-In 2,100 Wages Expense 125,000 1,800 Advertising Expense 13,000 Supplies Expense Phone Expense: Utilities Expense- 8,000 Insurance Expense Depreciation Expense-Butiding Depreciation Expense-5tore Equipment Miscellaneous Expense 980,550980,55060,000201,400 Net income Ferdosec: * Eheck My Woik