Rowe Inc. has been in operations for approximately 5 years. It is a private company, so the company prepares financial statements once a year. The company has no plans in the near future to go public. See the excel file for the trial balance. 1. The company has a two year insurance policy that was taken out on May 1m,2022. 2. On August 1st Rowe Inc. converted a customer that owed $50 from an accounts receivable to a notes receivable. Rowe Inc. borrows funds at 4% and the customer borrows funds at 5% 3. The company wrote off a customer for $10. The company estimates that 4% of the ending accounts receivable balance will not be collected. 4. The building was purchased 5 years ago. It has an estimated useful life of 20 years and a residual value of $20. 5. During the year the company purchased $2 in supplies. This has already been recorded. At the end of the year it was determined that there are $4 in supplies. 6. The company stopped business and physically counted inventory. Their inventory count at the end of the year was $202. consulting services over the next 8 months. The work will be done evenly over Q contract. 8. Employees are paid every Monday for the previous work week. They work Monday to Friday. There are 3 employees and they each make $10 per week. This year December 31 is on Saturday. Complete your assigament in the excel spreadsheet provided. i. Prepare any necessary journal entries and adjusting eutries for December 31 tt, 2022 Show your calculations. (18 marks) \begin{tabular}{|l|l|l|l|} \hline Adjusting entries & Amount & Amount \\ \hline 1 & Drcount & Yr. \\ \hline & & & \\ \hline 2 & & & \\ \hline 3 & & & \\ \hline 4 & & & \\ \hline 5 & & & \\ \hline 6 & & & \\ \hline \end{tabular}