The Hopewell Community Center ("HCC") recently completed its first year of operations. The ehearsals, choral Center provides space to local groups for various purposes: community theater group rehearsals, band and orchestra rehearsals, dance classes, play readings, book group lectures, neighborhood group meetings, etc. The HCC rented temporary space in a local school at a monthly cost of post-closing trial balance for the Hopewell Community Center as of December 31, 20x1 is presented below: meetings, s 1,250, During 20x2 the HCC plans to purchase its own building. The Hopewell Community Center Post-closing Trial Balance December 31, 20x1 S 28,740 Cash Interest Receivable Notes Receivable "1" Prepaid Insurance Community Center supplies Office supplies Theater equipment (sound and lighting) Accumulated depreciation-theater equipment Office Furniture Accumulated depreciation- office furniture Computers Accumulated depreciation -computers Accounts payable Unearned short-term rental revenue Unearned long-term rental revenue Notes payable "A" Discount on notes payable "A" Common Stock (shares outstanding) Retained Earnings 4,800 4,290 725 360 17,200 2,365 2,835 126 3,060 1,947 3,900 8,730 2,080 2,000 20,000 22,123 TOTAL S 62,159 $ 62,159 Company policies: No reversing entries are used. All numbers are rounded to the nearest calculated to the nearest month. Rental revenue accounts are initially credited when cash dollar. The straight-line method of depreciation is used for all fixed assets. All depreciation is is received for all rentals of space. At the end of the year, adjustments are made for amounts that are still unearned. The Center prepares adjusting entries and financial statements once a year, on December 31st. The Hopewell Community Center ("HCC") recently completed its first year of operations. The ehearsals, choral Center provides space to local groups for various purposes: community theater group rehearsals, band and orchestra rehearsals, dance classes, play readings, book group lectures, neighborhood group meetings, etc. The HCC rented temporary space in a local school at a monthly cost of post-closing trial balance for the Hopewell Community Center as of December 31, 20x1 is presented below: meetings, s 1,250, During 20x2 the HCC plans to purchase its own building. The Hopewell Community Center Post-closing Trial Balance December 31, 20x1 S 28,740 Cash Interest Receivable Notes Receivable "1" Prepaid Insurance Community Center supplies Office supplies Theater equipment (sound and lighting) Accumulated depreciation-theater equipment Office Furniture Accumulated depreciation- office furniture Computers Accumulated depreciation -computers Accounts payable Unearned short-term rental revenue Unearned long-term rental revenue Notes payable "A" Discount on notes payable "A" Common Stock (shares outstanding) Retained Earnings 4,800 4,290 725 360 17,200 2,365 2,835 126 3,060 1,947 3,900 8,730 2,080 2,000 20,000 22,123 TOTAL S 62,159 $ 62,159 Company policies: No reversing entries are used. All numbers are rounded to the nearest calculated to the nearest month. Rental revenue accounts are initially credited when cash dollar. The straight-line method of depreciation is used for all fixed assets. All depreciation is is received for all rentals of space. At the end of the year, adjustments are made for amounts that are still unearned. The Center prepares adjusting entries and financial statements once a year, on December 31st