The general ledger of Fast Ship at June 30, 2016, the end of the company's fiscal year, includes the following account balances before payroll and adjusting entries. BE (Click the icon to view the account balances.) The additional data needed to develop the payroll and adjusting entries at June 30 are as follows: (Click the icon to view the additional information.) Click the icon to view payroll tax rate information) Requirements 1. Using the T-accounts opened for you, insert the unadjusted June 30 balances. 2. Journalize and post the June 30 payroll and adjusting entries to the accounts. Identify each adjusting entry by letter 3. Prepare the current liabilities section of the balance sheet at June 30, 2016 Requirements 1 and 2. Using the T-accounts opened for you, insert the unadjusted June 30 balances. Joumalize and post the June 30 adjusting entries to the accounts. Identity each adjusting entry by letter We will start with Requirement 2. journalizing the journal entries, to assist us in posting to the T-accounts. (Record debits first, then credits. Select the explanation on the last line of the journal entry table) a. The long-term debt is payable in annual installments of $42,000, with the next installment due on July 31. On that date, Fast Ship will also pay one year's interest at 8%. Interest was paid on July 31 of the preceding year. Make the adjusting entry to accrue interest expense at your-ond. Choose from any list or enter any number in the input fields and then click Check Answer 5 parts Clear All Check Answer remaining MacBook Pro R apter 10: Problems 1 of 6 (2 complete) HWS 0 Data Table for you, insert the unadjusted 30 payroll and adjusting entries $ 110,000 section of the balance sheet at ou. Accounts Payable Interest Payable Salaries Payable Employee Income Taxes Payable FICA-OASDI Taxes Payable FICA-Medicare Taxes Payable Federal Unemployment Taxes Payable State Unemployment Taxes Payable Unearned Rent Revenue Long-Term Notes Payable 30 adjusting entries to the account trie redits. Select the explanation on the $42. accr will also pay one year's interest at 8% 5,700 210,000 field Print Done Check AI MacBook Pro type URL