your 25 the space provided or on a separate sheet of paper. 1) Underwater Adventures has the following account balances on August 31, 2014- 58.800 9,600 30 300 2200 301 500 190,700 44.000 Accounts payable Accounts receivable Accumulated amortization equipment Cash Cost of goods sold Jacobson, capital Jacobson, withdrawals Equipment Interest camed Triventory Operating expenses Sales discounts Sales returns and allowances Sales revenue Supplies Unearted sales revenue 88,000 2,000 71,500 175,500 3.100 14.400 520,600 7.100 4.500 The following information as at August 31, 2014 was also available A physical count of items showed 51.200 of supplies on hand b. An inventory count showed inventary on hand ot 566,400 The equipment has an estimated useful life at eight years and is expected to have no salvage value d Unearned sales revenue of $1,000 was eamed Required 1. Prepare the necessary adjusting journal entries at Awant 1. 2014 Portmplicity all operating espes are combined into a single operating expense sunt financial statement purposes. Use the mal account name for the adhisting ournal entries Prepare a clashed balance sheet based on added balances