Transfer the account balances to a 10-column worksheet and prepare a trial balance.
	Prepare the adjusting entries in the general journal and complete the worksheet.
3.	Prepare the companys income statement, retained earnings statement, and balance sheet.
4.	Prepare closing entries in the general journal.

Instructions X Victoria Company has the following account balances on December 31, 2019, prior to any adjustments: Debit Credit $1,900 4,700 $60 8,700 600 4.100 Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Prepaid Insurance Land Buildings Accumulated Depreciation: Buildings Equipment Accumulated Depreciation: Equipment Accounts Payable Notes Payable 38,000 11,500 10,700 3,100 4,300 1,400 Unearned Rent 1,200 7.300 10,000 18,075 1,300 49,355 Mortgage Payable Common Stock (2,000 shares) Retained Earnings (January 1, 2019) Dividends Sales Revenue Cost of Goods Sold Salaries Expense Utilities Expense Office Supplies Expense Delivery Expense Other Expenses 27,185 4,080 2.000 770 1,275 980 For classification purposes: Note Payable is due March 1, 2020 Mortgage Payable is due January 1, 2021 Additional adjustment information: (a) depreciation on buildings, S1,100; on equipment, S600; (b) bad debts expense, S240; (c) interest accumulated but not paid: on note payable, $50; on mortgage payable, 5530 (this interest is due during the next accounting period); (d) insurance expired, $175; (e) salaries accrued but not paid $370; (f) rent was collected in advance and the performance obligation is now satisfied, 8800; (g) office supplies on hand at year-end, 5230 (expensed when originally purchased earlier in the year); and (h) the income tax rate is 30% on current income and is payable in the first quarter of 2020. Required: 1. Transfer the account balances to a 10-column worksheet and prepare a trial balance 2. Prepare the adjusting entries in the general journal and complete the worksheet 3. Prepare the company's income statement, retained earnings statement, and balance sheet 4. Prepare closing entries in the general journal