Snow Lake Resort presents its un-adjusted trial balance below. Snow Lake Resort Trial Balance December 31, 2022 Debit Credit Cash $ 21,000.00 Accounts Receivable $ 16,000.00 Allowance for Doubtful Accounts $ 3,000.00 Inventory $ 23,000.00 Prepaid Insurance $ 8,000.00 Equipment $ 23,000.00 Accumulated Depreciation - Equipment $ 11,000.00 Cars $ 45,000.00 Accumulated Depreciation - Cars $ 24,000.00 Building Accumulated Depreciation - Building Accounts Payable Notes Payable $225,000.00 $ 175,000.00 $ 9,000.00 $ 5,000.00 Common Stock $ 60,000.00 $ 38,850.00 Retained Earnings Service Revenue Salaries Expense Utility Expense $ 31,000.00 2,100.00 $ 3,000.00 $ 95,000.00 Office Expense Rent Expense Advertising Expense $ 22,500.00 $ 1,250.00 Total $420,850.00 $420,850.00 $18,000.00 The following information is also provided by Snow Lake Resort. 1.00 Payments received in advance from clients $16,000 recorded as Service Revenue 2.00 Services performed for clients that have not been recorded by December 31, $23,000. 3.00 Bad debt expense for the year is $8,500. 4.00 Insurance expired during the year is $2,500. 5.00 All long-term assets are depreciated using straight-line depreciation method. 5.00 Equipment is depreciated for 20 years. Salvage value is $3,000. 7.00 Cars are depreciated for 5 year. Salvage value is $15,000. 8.00 Building is depreciated for 20 years. Salvage value is $25,000. 9.00 The notes payable is a 90-day, 12% note, issued on November 1, 2022. 0.00 Rent for machineries is $1,500 per month. 2022 rent had been paid, including for the first three months in 2023. 1.00 Salaries accrued and unpaid is $5,500. ed: 1.00 Prepare the adjusting journal entries as of December 31, 2022 2.00 Calculate the adjusted ending balances for all accounts 3.00 Prepare the adjusted trial balance. 4.00 Prepare the Financial Statements. December 31.00 31.00 31.00 31.00 31.00 31.00 31.00 31.00 31.00 31.00 Account Dr Cr Cash A/R Accumulated Depr-Eqp A/P owance for Doubtful Accou Prepaid Insurance Notes Payable Inventory Accumulated Depr-Cars Common Stock Equipment Salaries Expense Utility Expense Retained Earnings Building Service Revenue Advertising Expense Office Expense Accumulated Depr-Building Prepaid Rent Insurance Expense Cash Accounts Receivable Snow Lake Resort Adjusted Trial Balance December 31, 2022 Debit Credit Allowance for Doubtful Accounts Inventory Prepaid Rent Prepaid Insurance Equipment Accumulated Depreciation - Equipment Cars Accumulated Depreciation - Cars Building Accumulated Depreciation - Building Accounts Payable Notes Payable Salaries Payable Interest Payable Common Stock Retained Earnings Service Revenue Salaries Expense Utility Expense Office Expense Rent Expense Advertising Expense Depreciation Expense - Cars Depreciation Expense- Equipment Depreciation Expense - Building Insurance Expense Snow Lake Resort Income Statement For the Period ending 12/31/2022 Service Revenue Total Revenue Salaries Expense Utility Expense Office Expense Rent Expense Advertising Expense Depreciation Expense - Cars Depreciation Expense- Equipment Depreciation Expense - Building Insurance Expense Bad Debt Expense Interest Expense Total Expense Net Income $ Bad Debt Expense Interest Expense Interest Payable Total $ S