The following adjustment data was assembled by A. Gabourel who is the Accountant for Jeckle Ltd.:

A) Supplies used for the period were $1,225.

B) Depreciation on the building is $2,500.

C) Depreciation on the Store Equipment is $3,125.

D) Prepaid Rent unexpired is $900.

E) Twenty percent of the Unearned Fees has been earned.

F) Salaries incurred but unpaid is $5,000.

1. Journalize the adjusting journal entries on March 31, 2019 the end of the acctg period.

2. Prepare an adjusted trial balance.

State how the financial statements would have been affected if the adjusting entry for (E) was omitted.