2. Shown below is the completed work sheet for R. Tompko, who operates a bar- ber shop in Milton, Ontario. In your Workbook: A. Explain why there are two adjustments to the supplies account. B. Journalize the adjusting and closing entries in the general journal provided. C. Post the adjusting and closing entries in the general ledger provided. D. Take off a post-closing trial balance. Golden Tresses Hair Stylists ACCOUNTS Work Sheet TRIAL BALANCE DR Year Ended Dec. 31, 20- ADJUSTMENTS INCOME STATEMENT BALANCE SHEET CR DR CR DR CR DR CR Bank 790- Supplies 2755- Prepaid Insurance 2450 0800-1055- 1625- 790- 2500- 825- Equipment 17005 17005- Accounts Payable 1075- 0800 1875- GST Payable 580- 580- GST Recoverable 365- 365- R. Tompko, Capital 9342- 9342- R. Tompko, Drawings 42000- 42000- Revenue 98370- 98370- qu Advertising Expense 1200- 1200 Bank Charges Expense 96- 96- 01 Supplies Used Expense 6950 1055- 8005- Miscellaneous Expense 1902- 1902- Rent Expense 6000 = 6000- Utilities Expense 2104- 2104 Wages Expense 25750- 25750- 109367-109367- Insurance Expense 1625 1625- 3480 3480-46682-98370-63485-11797- Net Income 51688- 51688 98370-98370-63485-63485