Students' Handout 3: Adjusting & Closing Entries: Following is the trial balance of the Platteville Golf Club, Inc. as of December 31. The books are closed annually on December 31. PLATTEVILLE GOLF CLUB, INC. TRIAL BALANCE - DECEMBER 31 1440 13.000 395 Debit Credit Cash $15,000 Accounts Receivable Allowance for Doubtful Accounts for $1,100 Unexpired Insurance 5500 9,000 Land 350,000 Buildings 120,000 Accumulated Depreciation of Buildings 38,400 Equipment 150,000 Iseo Accumulated Depreciation of Equipment 70,000 Common Stock 400,000 Retained Earnings 82,000 Dues Revenue 200.000 Greens Fee Revenue 8,100 Rental Revenue 15.400 Utilities Expense 54,000 Salaries Expense 80.000 Maintenance Expense 24.000 S815000 $815000 a. Enter the balances in ledger accounts. Allow five lines for each account. b. From the trial balance and the information given, prepare annual adjusting entries and post to the ledger accounts. 1. The buildings have an estimated life of 25 years with no salvage value (straight-line method.) 2. The equipment is depreciated at 10% per year. 3. Insurance expired during the year $3,500. 4. The rental revenue represents the amount received for 11 months for dining facilities. The December rent has not yet been received 5. It is estimated that 15% of the accounts receivable will be uncollectible. 6. Salaries earned but not paid by December 31, $3,600. 7. Dues paid in advance by members $8,900. c. Prepare an adjusted trial balance. D-Prepare closing entries and post