A completed worksheet for The King Group is given below. THE KING GROUP Worksheet Month Ended December 31, 20X1 Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Account Name Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 92,500 92,500 92,500 Accounts receivable 12,100 12,100 12,100 Supplies 6,200 (a) 2,500 3,700 3,700 Prepaid advertising 24,800 (b) 3,100 21,700 21,700 Equipment 62,500 62,500 62,500 Accumulated depreciationEquipment (c) 2,500 2,500 2,500 Accounts payable 12,100 12,100 12,100 Delva King, Capital 133,000 133,000 133,000 Delva King, Drawing 8,500 8,500 8,500 Fees incom

A completed worksheet for The King Group is given below. Required: 1. Record the adjusting entries in the general journal (transactions 1-3). 2. Record the closing entries in the general journal (transactions 4-7). 3. Post the adjusting entries and the closing entries to the general ledger accounts. Hint: Be sure to enter beginning balances. 4. Prepare a postclosing trial balance. How many accounts are listed in the adjusted and postclosing trial balance section? Complete this question by entering your answers in the tabs below. Record the adjusting entries and the closing entries in the general journal