The trial balance for the Basket Corner, a business owned by Linda Palermo is shown below on page 558. Year-end adjustment information is as follows:

(a, b)	A physical count shows that merchandise inventory costing $102,000 is on hand as of December 31, 20--.
(c, d, e)	Palermo estimates that customers will be granted $6,840 in refunds of this years sales next year and the merchandise expected to be returned will have a cost of $5,160.
(f)	Supplies remaining at the end of the year, $3,960.
(g)	Unexpired insurance on December 31, $4,560.
(h)	Depreciation expense on the building for 20--, $15,000.
(i)	Depreciation expense on the store equipment for 20--, $6,000.
(j)	Unearned rent revenue as of December 31, $5,400.
(k)	Wages earned but not paid as of December 31, $4,200.

Required

1. Complete the Adjustments columns, identifying each adjustment with its corresponding letter.
2. Complete the spreadsheet.
3. Enter the adjustments in a general journal. (to be completed in excel.)

CREDIT BALANCE 120,000.00 48,000.00 11.520.00 4,200.00 Basket Comer 2 Trial Balance 3 For the Year Ended December 31, 20-- 4 ACCOUNT ME DBIT BALANCE 5 ( x 24,000.00 1 Amounts Receivable 16,800.00 & Merchandise Inventory 90,000.00 9 Estimated Returns Inventory 3,840.00 10 Supplies 9,600.00 11 Prepaid Insurance 6,480.00 12 Land 156,000.00 13 Building 300,000.00 14 Acumulated DepreciationBuilding 15 Store Equipment 120,000.00 16 Acumulated Depreciation-Store Equipment 17 Amounts Payable 18 Customer Refunds Payable 19 Wages Payable 20 Sales Tax Payable 21 Uneamed Rent Revenue 22 L Palemo, Capital 2 L Palemo, Drawing 31,200.00 24 Income Summary 25 26 Sales 27 Sales Returns and Allowances 17,400.00 28 Rent Revenue 2 Purchases 150,000.00 30 Purchases Rietumsand Allowances 31 Purchases Discounts 32 Freight-In 2520.00 33 Wages Expense 150,000.00 34 Advertising Expense 15,600.00 35 Supplies Expense 36 Phone Expense 1,620.00 37 Utilities Expense 9,600.00 38 Insurance Expense 39 Depreciation Expense Building 40 Depreciation ExpenseStore Equipment 41 Rent Expense 72,000.00 42 1,176,660.00 13 7,080.00 10,680,00 341,172,00 630,168,00 1,690.00 2160.00 1,176,660.00