1. Using the following balances, prepare a detailed trial balance for Microsoft Corporation as of March 31, 2024. Discuss any adjustments that may be necessary.

Account	Debit ($)	Credit ($)
Cash	80,000
Accounts Receivable	90,000
Inventory	50,000
Prepaid Insurance	10,000
Equipment	200,000
Accumulated Depreciation		40,000
Accounts Payable		70,000
Notes Payable		60,000
Common Stock		100,000
Retained Earnings		60,000
Sales Revenue		250,000
Rent Expense	15,000
Salary Expense	25,000
Utilities Expense	5,000