Sideline Shirts & Apparel, Ltd.Trial Balance WorksheetDecember 31, 2022Unadjusted Trial BalanceAdjustmentsAdjusted Trial BalanceAccountDebitCreditDebitCreditDebitCreditCash11,890Accounts receivable18,655Inventory55,845Office suppllies1,060Prepaid insurance9,180Notes receivable12,000Investments in stocks and bonds10,370Land25,000Buildings96,000Equipment88,350Accumulated depreciation61,445Accounts payable13,645Salaries payablePayroll taxes payable2,456Real estate taxes payable7,660Income taxes payable11,440Unearned revenue - customer downpayments9,355Notes payable - line of credit19,620Long-term loans payable55,000Common stock60,000Retained earnings49,609Dividends22,000Product Sales907,654Interest and dividend income760Cost of Goods Sold557,654Salaries expense196,654Payroll taxes17,276Employee benefits18,872Rent expense7,200Advertising expense4,760Insurance expense3,560Office suppllies expense2,645Gas, Fuel & Oil3,896Repairs and maintenance expense4,685Real estate taxes7,648Utilities expense5,896Depreciation - equipmentTravel expense1,858Interest expense4,250Income tax expense11,440Totals1,198,6441,198,644Adjusting Entries:DebitCreditThe annual premium for the insurance policy was paid on July 1, 2022 for $9,180 and posted to prepaid insurance.The office supplies were counted on 12-31-22 and had a balance of $822.The wages and salaries of the sales & adminstrative staff is $920 per day.The payroll is a weekly payroll and staff work six days a week with Sundays closed.The last December payroll was paid on Friday, December 31st for timecards through Saturday, December 25thDepreciation for 2022 is $17,229.Customers must make a downpayment for all special order items.The actual customer downpayments for which items had not been sold was $7,282 at 12-31-22.This information is not for adjusting entries - balance sheet onlyCurrent portion of long-term debt$5,000how much they have to pay for the coming year55,000 on balance sheets gets broken into current and noncurrent liabilities