Salt Creek Golf Inc. was organized on July 1, 2017. Quarterly financial statements are prepared. The trial balance and adjusted trial balance on September 30 are shown here.

SALT CREEK GOLF INC. Trial Balance September 30, 2017
		Unadjusted				Adjusted
		Dr.		Cr.		Dr.		Cr.
Cash		$ 6,700				$ 6,700
Accounts Receivable		400				1,000
Supplies		1,200				180
Prepaid Rent		1,800				900
Equipment		15,000				15,000
Accumulated DepreciationEquipment								$ 350
Notes Payable				$ 5,000				5,000
Accounts Payable				1,070				1,070
Salaries and Wages Payable								600
Interest Payable								50
Unearned Rent Revenue				1,000				800
Common Stock				14,000				14,000
Retained Earnings				0				0
Dividends		600				600
Service Revenue				14,100				14,700
Rent Revenue				700				900
Salaries and Wages Expense		8,800				9,400
Rent Expense		900				1,800
Depreciation Expense						350
Supplies Expense						1,020
Utilities Expense		470				470
Interest Expense						50
		$35,870		$35,870		$37,470		$37,470

-Prepare a retained earnings statement for the 3 months ending September 30. (List items that increase retained earnings first.)

-Prepare a classified balance sheet at September 30. (List current assets in order of liquidity.)

-Identify which accounts should be closed on September 30.

Cash
Accounts Receivable
Supplies
Prepaid Rent
Equipment
Accumulated DepreciationEquipment
Notes Payable
Accounts Payable
Salaries and Wages Payable
Interest Payable
Unearned Rent Revenue
Common Stock
Retained Earnings

-If the note bears interest at 12%, how many months has it been outstanding?