use T afcoubts to show the balances and entries. Show account balances before and after adjustments

Marathon Magazine, Inc., has the following account balances, among others, in its trial balance at December 31 of the current year: Credits Debits $4,650 16,800 Supplies on Hand Prepaid Rent Unearned Subscription Fees Subscriptions Revenue Salaries Expense $24,000 261,000 123,000 The inventory of supplies on hand at December 31 amounts to $720. The balance in the Prepaid Rent account is for a one-year period starting April 1 of the current year. One-third of the $24,000 balance in Unearned Subscription Fees has been earned. . Since the last payday, the employees of the company have earned additional salaries in the amount of $7,420. 1. Prepare the year-end adjusting journal entries at December 31. Assume you used page 22 of the general journal to record the journal entries. 2. Open ledger accounts for each of the accounts involved, enter the balances as shown in the trial balance, post the adjusting journal entries, and calculate year-end balances