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Requirement 2. Joumalize and post the adjusting entries for the month of January. Omit explanations. Denote each adjustment as Adj. Compute each account baance, and denote the balance as Bal Begin by journalizing the adjusting entries for the month of January. Omit explanations. (Record debits first, thee credits. Exclude explanations from any journal entries) (a) A physical count of the inventory at the end of the month revealed the cost was 53,543 (b) The company estimated sales returns wiil be 5120 with a cost of $60. Begin by preparing the entry to joumalice the sales portion of the adjustment. Do not record the expense adjustment related to the information. We will do that in the following step. Now journaize me expense aqustment resared 10 the estimated sales returns. (a) Ine unearned kevenue has now been eatned (The Unearmed Rovenue balance was initially recorded in December as part of fees paid by cartomers fot the future rental af canoes.) (a) Interest expense accrued on the noles payable, 570 . (f) Rent of one month has been used. (On December 1, the company prepaid \$2,100 for three months" rent on the warehouse where the company stores the canoes. On December 31, the company recorded one month's worth of rent expense for the month of December in the amount of 5700.) (a) Monthy depreciation on the building amounts to $1,500. Enter the unadjusted balance of each account by selecting a "Bal "reference and entering the amount on first line, and on the appropriate side of the T-account. Post the January adfustng entries you recorded above using "Adj " along with the applicable letter as posting references on the second line of the necessary T-accounts. For example, for adjustment (a), select "Ach, (a)" as the appropiate posing reference to post to the accounts Compute the adjusted balance of each account and donote the balance as Ad Bal on the final line of each. T-account (For accounts with a zeto unadusled and/or adjusted balance, select the Baf "and/or "Adi Bal" reference and enter a 04 on the normal swe of the T-account). Utilities Payable Cance Rental Revenue Wages Expense Utilities Expense Uneamed Reveraue Telephone Expense \( \frac{\text { Notes Payable }}{\hline} \) Supplies Expense Accumulated Dept,-Bullding Depreciation Expenve-Building Requirement 3. Prepare the month ended January 31,2025 , single step income statement of Outdoor Adventure Company Merchandising Transactions Non-Merchandising Transactions Ledaer Ledger