45 P3-9B (Adjusting and Closing) Presented below is the trial balance of the ALI Golf and Tennis Club, Inc as of December 31. The books are closed annually on December 31 ALI GOLF AND TENNIS CLUB, INC TRIAL BALANCE DECEMBER 31 Credit Cash $ 9,500 Allowance for Doubtful Accounts Prepaid Insurance Land $ 3,800 4,850 650,000 549.000 59,900 261,000 121,850 800,000 Common Stock Retained Earnings Dues Revenue Green Fees Revenue Rent Revenue Utilities Expense Salaries and Wages Expense Maintenance and Repairs Expense 489,600 121,000 26,400 65,600 165,000 95.000 $1,823,450 $1,823.450 (a) Enter the balances in ledger accounts (b) From the trial balance and the information given below, prepare annual adjusting entries and post to the ledger accounts. (Omit explanations) 1. The buildings have an estimated life of 30 years with no salvage value (straight-line method). The equipment is depreciated at 10% per year. 3. Insurance expired during the year $3,000. 4. The rent revenue represents the amount received for 11 months for dining facilities. The Decem- ber rent has not yet been received 5. It is estimated that 20% of the accounts receivable will be uncollectible. 6. Salaries and wages earned but not paid by December 31, $4,600. 7. Dues received in advance from members $16,600. (c) Prepare an adjusted trial balance