Smith Co. is a company engaged in the laundry industry that has been growing massively since 2021. As of November 30,2023, account balances are provided below for Smith Company. Presented below is the general journal for Smith Company during December 2023. Smith Company General Journal December 2023(In7) I. Instructions: a. Prepare a general ledger based on December 1 balances and the joumal entries Smith Company made for December 2023 using the 3-column format! b. Prepare the unadjusted trial balance for Smith Company on December 31, 2023! c. Prepare the adjusting and correcting entries (if needed) on December 31, 2023. Assume 360 days per year (1 month =30 days). Post the adjusting entries and correcting entries Smith Company made for December 2023 to the ledger! Write 'Adjusting entry' or 'Correcting entry' in the explanation column. d. Prepare the adjusted trial balance for Smith Company on December 31, 2023! Additional Information: Smith Company had some adjustments made due to the transactions that occurred. 1. Performed physical count on supplies on December 31 , then found out the existing supplies are 5,570. 2. Interest revenue consisting of a 5% annual interest rate of a note for four months, effective December 17, 2023, must be recognized. 3. The advertisement is valid for six months and needs to be adjusted for the month. 4. The building rent is valid for three years and needs to be adjusted on December 31 , 2023. 5. Smith Company provides separate insurance policies for its air conditioner and washing machine. The policy price for the air conditioner purchase is 360 with a term of one year, and the policy price for the washing machine is 420 with a term of 4 months. 6. Interest expense consisting of a 6% annual interest rate of one-year note needs to be recognized. 7. The air conditioner is depreciated by the straight-line method, the residual value of the air conditioner is 100, and the economic life is four years. 8. The washing machine is depreciated by the straight-line method, the residual value of the washing machine is 660, and the economic life is five years. 9. Smith Company determined at the end of the month that it had earned 2,030 of unearned service revenue. 10. On December 31,2023 , Smith Company realized that its service was worth 4,225 but had not yet charged the customer. 11. On December 31, 2023, Smith Company realized that on December 28, service revenue was understated by 550. 12. On December 31,2023 , Smith Company realized that on December 27 , the company recorded accounts payable to debit and a credit to cash of 1,610 instead of 1,160. 13. On December 31,2023 , Smith Company realized that on December 13, the company recorded accounts payable as debit and a credit to cash instead of recording cash as debit and accounts receivable as credit. Smith Co. is a company engaged in the laundry industry that has been growing massively since 2021. As of November 30,2023, account balances are provided below for Smith Company. Presented below is the general journal for Smith Company during December 2023. Smith Company General Journal December 2023(In7) I. Instructions: a. Prepare a general ledger based on December 1 balances and the joumal entries Smith Company made for December 2023 using the 3-column format! b. Prepare the unadjusted trial balance for Smith Company on December 31, 2023! c. Prepare the adjusting and correcting entries (if needed) on December 31, 2023. Assume 360 days per year (1 month =30 days). Post the adjusting entries and correcting entries Smith Company made for December 2023 to the ledger! Write 'Adjusting entry' or 'Correcting entry' in the explanation column. d. Prepare the adjusted trial balance for Smith Company on December 31, 2023! Additional Information: Smith Company had some adjustments made due to the transactions that occurred. 1. Performed physical count on supplies on December 31 , then found out the existing supplies are 5,570. 2. Interest revenue consisting of a 5% annual interest rate of a note for four months, effective December 17, 2023, must be recognized. 3. The advertisement is valid for six months and needs to be adjusted for the month. 4. The building rent is valid for three years and needs to be adjusted on December 31 , 2023. 5. Smith Company provides separate insurance policies for its air conditioner and washing machine. The policy price for the air conditioner purchase is 360 with a term of one year, and the policy price for the washing machine is 420 with a term of 4 months. 6. Interest expense consisting of a 6% annual interest rate of one-year note needs to be recognized. 7. The air conditioner is depreciated by the straight-line method, the residual value of the air conditioner is 100, and the economic life is four years. 8. The washing machine is depreciated by the straight-line method, the residual value of the washing machine is 660, and the economic life is five years. 9. Smith Company determined at the end of the month that it had earned 2,030 of unearned service revenue. 10. On December 31,2023 , Smith Company realized that its service was worth 4,225 but had not yet charged the customer. 11. On December 31, 2023, Smith Company realized that on December 28, service revenue was understated by 550. 12. On December 31,2023 , Smith Company realized that on December 27 , the company recorded accounts payable to debit and a credit to cash of 1,610 instead of 1,160. 13. On December 31,2023 , Smith Company realized that on December 13, the company recorded accounts payable as debit and a credit to cash instead of recording cash as debit and accounts receivable as credit