9:18 II LTE 924 Case Study Journal Ledger Worksheet Adjustments Cave Accounting Cycle Quest Cruise is a travel agency that offers international and local travel packages. The company in and operated by Gay Pelletier. The closing balances at the end of October 2003 and the chant of acres below Cash Accounts Receivable Prepaid Insurance Accumulated Depreciati Quest Cruise $11.800 Used Rev $41,000 $12,500 Total L Pelle Capital $70.250 Total Liabilities & Owa Equity REVENUE Total Assets Account Descriptive ASSETS $11,500 547,500 $22.720 A Service Revere 105 EXPENSES 110 Advertising Expe 500 SID 13 515 320 300 545 305 Telephone Expense Salary Payable 210 Travel Expe 215 Expe Bank Lon 350 325 OWNER'S EQUITY 300 310 315 For the of November 2023, Quest Crise had the following transactio New 2 New 2 Provided travel services to pop of vellen, they paid $32,500 now and will pay 50,500 la Purchase equipment by signing a None Payable 512450 to be paid next Se 15 New 20 New 20 New 28 Received $31,450 cash in advance from oveller for travel services to be provided next mo Pand $7,540 advertising expense for the potion of the mavel and in the uth of New 30 Paid $578 cash for the bank loan which included $375 principle and $203 interest. The dus in 6 years with monthly repayment of $375 principle ples estat d At the end of November the following adjustment had to be joumalized to properly report the balances of the company's Nov 30 Accrued interest on the Note Payable amounts to $210. Required at Enter the opening balances fives the October 3123 balance et into the general ledger by Prepelies for the mth of November and put them to the appropriate geral Ce the trial lace in the worksheet and then complete the remaining section of the working the information for de the comment, of 'squity and the classified helst Prepare the lies for the sand pe to the appropriate p 9:19 LTE 924 Nov 2 Nov 2 Nov 5 Nov 15 Nov 18 Nov 20 Nov 231 Nov 26 Nov 28 Nov 29 Provided travel services to group of travellers; they paid $32,500 now and will pay $6,500 later. Purchase equipment by signing a Note Payable for $21,000, due in 3 years plus accrued interest at 12%. Recorded travel expenses for $12,450 to be paid next month. Paid $9,200 cash to reduce the balance of accounts payable. Received $5,900 cash from customers for the travel services provided last month. Received a telephone bill for $995 which will be paid next month. Paid $9,110 cash for employee's salaries. Received $31,450 cash in advance from travellers for travel services to be provided next month. Paid $7,540 advertising expense for the promotion of the travel and tours in the month of November. The owner withdrew $8,000 cash for personal use. Paid $578 cash for the bank loan which included $375 principle and $203 interest. The loan is Nov 30 due in 6 years with monthly repayments of $375 principle plus interest at 9% on outstanding balance. At the end of November, the following adjustment had to be journalized to properly report the balances of the company's accounts: Nov 30 Nov 30 Nov 30 $34,150 of the balance of unearned revenue, still remains unearned. One month of prepaid insurance worth $1,250 has been used. Monthly depreciation on the equipment was $1,440. Nov 30 Accrued salary expense of $4,555 for an employee. Nov 30 Accrued interest on the Note Payable amounts to $210. Required: a) Enter the opening balances from the October 2023 balance sheet into the general ledger accounts. b) Prepare the journal entries for the month of November and post them to the appropriate general ledger accounts. c) Create the trial balance in the worksheet, and then complete the remaining section of the worksheet taking into account the information for adjustments shown above. d) Create the income statement, statement of owner's equity and the classified balance sheet. e) Prepare the journal entries for the adjustments and post them to the appropriate general ledger accounts. f) Prepare the journal entries to close the books for the month of November 2023 (use the income summary account), and post the journal entries to the appropriate general ledger accounts. g) Create the post-closing trial balance.