URGENTLY ANSWER REQUIRED !!

Franson Call Centre Service 31-Aug-14 Trial Balance Credit Debit $ 5,400.00 $ 2,800.00 $ 1,300.00 $ 2,400.00 $ 60,000.00 Accounts Cash Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable Owner's Capital Owner's Drawings Service Revenue Salaries and Wages Expense Utilities Expense Advertising Expense Total $ 40,000.00 $ 2,400.00 $ 30,000.00 $ 1,000.00 $ 4,900.00 $ 3,200.00 $ 800.00 $ 400.00 $ 77,300.00 $ 77,300.00 Q6. Above is the trial balance of Franson Call Centre Service on 31st August 2014. At the end of its first month of operations, Franson Call Centre Service has the above trial balance. Other data: 1. Insurance expires at the rate of $200 per month. 2. $1,000 of supplies are on hand at August 31. 3. Monthly depreciation on the equipment is $900. 4. Interest of $500 on the notes payable has accrued during August. 5. Assuming $35,000 of the notes payable are long term liability. Instructions: (a) Record the adjusting entries (b) Prepare Adjusted trial balance, Income Statement and Balance sheet