Wildhorse Creek Golf Inc. was organized on July 1, 2022. Quarterly financial statements are prepared. The trial balance and adjusted trial balance on September 30 are shown as follows.

WILDHORSE CREEK GOLF INC. Trial Balance September 30, 2022
		Unadjusted				Adjusted
		Dr.		Cr.		Dr.		Cr.
Cash		$ 6,340				$ 6,340
Accounts Receivable		530				1,260
Supplies		1,200				400
Prepaid Rent		1,740				870
Equipment		15,500				15,500
Accumulated DepreciationEquipment								$ 310
Notes Payable				$ 5,500				5,500
Accounts Payable				2,000				2,000
Salaries and Wages Payable								650
Interest Payable								55
Unearned Rent Revenue				1,430				940
Common Stock				14,400				14,400
Retained Earnings				0				0
Dividends		490				490
Service Revenue				17,400				18,130
Rent Revenue				1,170				1,660
Salaries and Wages Expense		8,990				9,640
Rent Expense		820				1,690
Depreciation Expense						310
Supplies Expense						800
Utilities Expense		6,290				6,290
Interest Expense						55
		$41,900		$41,900		$43,645		$43,645

1. Journalize the adjusting entries that were made. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

2.Prepare an income statement for the 3 months ending September 30.

3.Prepare a classified balance sheet at September 30. (List current assets in order of liquidity.)

4.Identify which accounts should be closed on September 30.

5.If the note bears interest at 12%, how many months has it been outstanding?