Unadjusted Trial Balance from the text Information required for adjusting entries 1 There is no interest accrual required for the mortgage loan on the building becausece payment was made on Dec. 31. The loan for the Balloon machine carries an interest rate of 5% and has been outstanding for 15 days. 2. Depreciation of $800 on the cash register machines and $15,000 on the other equipment has not yet been recorded 3. A divident of $2,000 was declared but has not been recorded. It will be paid on March 2021. 4. The monthly electricity bill of $2,000 was received in early January 2021. This bill is for the month of December 2020. 5. Income tax expense of $27,000 is estimated as the payable. 6. Dnly 40% of the prepaid insurance amount related to 2020 7. The lawyer's invoice for $800 for services performed in December 2020 was received in early January 2021 8. Salaries that related to December 31,2020, and not paid by the year end amounted to $12,000. 1. Use the information in the case to prepare necessary adjusting journal entries at December 31, 2020. 2. Post the entries from questions 1 to the T-accounts provided and calculate the ending balance in each account. 3. Prepare an adjusted trial balance (pre-closing) at December 31,2020 4. Based on your ending balances, prepare necessary closing journal entries at December 31,2020 5. Prepare the income statement for 2020 6. Prepare the statement of retained earnings for 2020 7. Prepare a classified balance sheet at December 31,2020