The general ledger of Quick Ship at June 30, 2018, the end of the companys fiscal year, includes the following account balances before payroll and adjusting entries.

Requirements 1 and 2. Using the T-accounts opened for you, insert thebunadjusted June 30 balances. Journalize and post the June 30 adjusting entries to the accounts. Identify each adjusting entry by letter. Round to the nearest dollar. We will start with requirement 2, journalizing the journal entries, to assist us in posting to the T-account (record debits first, then credits. Select the explanation on the last line)

A. The long-term debt is payable in annual installments of $72,000 with the next installment due on July 31. On that date, Quick Ship will also pay one years interest at 10%. Interest was paid on July 31 of the preceding year. Make the adjusting entry to accure interest expense at year-end.

B. Gross unpaid salaries for the last payroll of the fiscal year were $5000. Assume that employee income taxes withheld are $990 and that all earnings are subject to OASDI ( round amounts to the nearest dollar)

C. Record the associated employer taxes Payable for the last payroll of the fiscal year, $5000. Assume that the earnings are not subject to unemployment compensation taxes. ( round amounts to nearest dollar )

D. On Feb. 1, company collected one years rent of $5700 in advanced

The selected T-accounts have been opened for you. Insert the unadjusted June 30 balances using Beg.Bal posting reference to show the unadjusted balance of each amount. If an account has a zero unadjusted balance enter 0 on the normal balance side of the amount. Post the adjusting entries to the T-accounts using the corresponding letters (a) through (d) as posting references. Use Bal posting references to show the ending balance of each account

Data Table Accounts Payable $ 110,000 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 5,700 360,000