a) Prepare the necessary adjusting journal entry on Dec 31, 2022. [Narrations are not required] for: Other data: 11) The business is expected to make principal payments totaling $150,000 towards the loan during the fiscal year to November 30,2023

The other adjusted entries are listed below. Required, please assist with the following:

b) Prepare the Adjusted Trial balance for the period ending December 31, 2022.

c) Prepare the following financial statements for the division: A Multiple-step income statement & a Statement of owners equity for the year ended December 31, 2022 A Classified balance sheet, in report format, at December 31, 2022.

The following are the adjusting journal entries for December 31, 2022:

Date	Account	Dr	Cr
	Store Supplies Expense	$500,000
	Store Supplies		$500,000

Date	Account	Dr	Cr
	Insurance Expense	$2,400,000
	Prepaid Insurance		$2,400,000

Date	Account	Dr	Cr
	Rent Expense	$1,500,000
	Prepaid Rent		$1,500,000

Date	Account	Dr	Cr
	Depreciation Expense - Furniture and Equipment	$590,000
	Accumulated Depreciation - Furniture and Equipment		$590,000

Date	Account	Dr	Cr
	Depreciation Expense - Motor Trucks	$198,796
	Accumulated Depreciation - Motor Trucks		$198,796

Date	Account	Dr	Cr
	Salaries Expense	$55,000
	Salaries Payable		$55,000

Date	Account	Dr	Cr
	Interest Expense	$25,000
	Interest Payable		$25,000

Date	Account	Dr	Cr
	Unearned Sales Revenue	$350,000
	Sales Revenue		$350,000

Date	Account	Dr	Cr
	Bad-Debt Expense	$20,000
	Allowance for Bad Debts		$20,000

Date	Account	Dr	Cr
	Cost Of Goods Sold	$500,000
	Merchandise Inventory		$500,000

Trial Balance as of December 31, 2022 \begin{tabular}{|l|r|r|} \hline AVC Name & \multicolumn{2}{|c|}{ Trial Balance } \\ \hline \hline & \multicolumn{1}{|c|}{ DR } & \multicolumn{1}{c|}{ CR } \\ \hline Cash & 2,000,000 & \\ \hline Accounts receivable & 2,000,000 & \\ \hline Allowance for bad debt & & 180,000 \\ \hline Other debtors & 4,800,000 & \\ \hline Merchandise Inventory & 800,000 & \\ \hline Store Supplies & 3,400,000 & \\ \hline Prepaid Insurance & 2,100,000 & \\ \hline Prepaid rent & 6,000,000 & \\ \hline Furniture \& Equipment & & 2,360,000 \\ \hline Accumulated deprecation-Furniture and equipment & 1,600,000 & \\ \hline Motor Truck & & 1,180,570 \\ \hline Accumulated depreciation- Motor Truck & & 450,000 \\ \hline Accounts payable & & \\ \hline Salary payable & & \\ \hline Interest payable & & 450,000 \\ \hline Unearned Sales revenue & & 2,585,000 \\ \hline Note Payable, long term & 56,570 & \\ \hline Capital & & 25,950,000 \\ \hline Withdrawals & 354,000 & \\ \hline Sales revenue & 245,000 & \\ \hline Sales discount & 9,500,000 & \\ \hline Sales returns and allowances & 7,500,000 & \\ \hline Cost of goods sold & & \\ \hline Salaries expense & 73,155,570 & 43,155,570 \\ \hline Insurance Expense & 2,100,000 & \\ \hline Utilities Expense & & \\ \hline Rent Expense & & \\ \hline Depreciation Expense - Furniture and Equipment & \\ \hline Depreciation Expense - Motor truck & & \\ \hline Store Supplies Expense & & \\ \hline Gain/loss on Disposal of Fixed Asset & & \\ \hline Bad-Debt Expense & & \\ \hline Interest Expense & & \\ \hline & & \\ \hline \end{tabular} Trial Balance as of December 31, 2022 \begin{tabular}{|l|r|r|} \hline AVC Name & \multicolumn{2}{|c|}{ Trial Balance } \\ \hline \hline & \multicolumn{1}{|c|}{ DR } & \multicolumn{1}{c|}{ CR } \\ \hline Cash & 2,000,000 & \\ \hline Accounts receivable & 2,000,000 & \\ \hline Allowance for bad debt & & 180,000 \\ \hline Other debtors & 4,800,000 & \\ \hline Merchandise Inventory & 800,000 & \\ \hline Store Supplies & 3,400,000 & \\ \hline Prepaid Insurance & 2,100,000 & \\ \hline Prepaid rent & 6,000,000 & \\ \hline Furniture \& Equipment & & 2,360,000 \\ \hline Accumulated deprecation-Furniture and equipment & 1,600,000 & \\ \hline Motor Truck & & 1,180,570 \\ \hline Accumulated depreciation- Motor Truck & & 450,000 \\ \hline Accounts payable & & \\ \hline Salary payable & & \\ \hline Interest payable & & 450,000 \\ \hline Unearned Sales revenue & & 2,585,000 \\ \hline Note Payable, long term & 56,570 & \\ \hline Capital & & 25,950,000 \\ \hline Withdrawals & 354,000 & \\ \hline Sales revenue & 245,000 & \\ \hline Sales discount & 9,500,000 & \\ \hline Sales returns and allowances & 7,500,000 & \\ \hline Cost of goods sold & & \\ \hline Salaries expense & 73,155,570 & 43,155,570 \\ \hline Insurance Expense & 2,100,000 & \\ \hline Utilities Expense & & \\ \hline Rent Expense & & \\ \hline Depreciation Expense - Furniture and Equipment & \\ \hline Depreciation Expense - Motor truck & & \\ \hline Store Supplies Expense & & \\ \hline Gain/loss on Disposal of Fixed Asset & & \\ \hline Bad-Debt Expense & & \\ \hline Interest Expense & & \\ \hline & & \\ \hline \end{tabular}