\fThe Controller has provided the following information for year-end: 1. E. El. Gould uses the percentageofreceiyables method to calculate the bad debt proyision each year. Gould has estimated this allowance should be $30,000 at the end of the year {at December 31, 2021]. HINT: An allowance for doubtful accounts is a contra asset account on the balance sheet representing managements\" estimates of uncollectible accounts. An adjustment to the allowance account on the balance sheet requires an offsetting adjustment to the bad debt expense account on the income statement. During the last quarter of 2021, an additional 1,000 shares were issued for cash at $400 per share. The accounting for this entry was missed so Gould needs to record this transaction. The prepaid insurance account relates to an amount paid for a 12-month fire insurance policy. The policy was paid on August 1, 2021. A year end count of office supplies was completed. Office supplies on hand are $11,200. A diyidend of 51.00 per share was declared on December 15. This has not yet been recorded. {Gould records diyidends declared with a debit to a diyidends account. This account is closed at year end to retained earnings}. Payment is anticipated 60 days following declaration ofthe diyidends. The plant and equipment were acquired on January 1, 2013 and were being amortized on a straight-line basis oyer 20 years with a residual 1.ralue of $114,000. As ofJanuary 1, 2021, Gould reyised the estimated residual yalue of the building and equipment to $140,000 and the remaining useful life to 10 years [total useful life of 13 years, with 3 years already depreciated}. Depreciation has not yet been recorded for 2021. Gould paid $596,000 for adyertising in magazines for the period March 1, 2021 to March 1, 2022. The full amount was recorded as adyertising expense. Employees earned $44,000 during December that have not yet been paid or recorded. This amount is expected to be paid January 5, 2022. Gould's plan for expansion to increase the number of boutiques in the year by 200 stores, was financed August 1, 2021, with the issuance of 11% par value bonds in the amount of $1,200,000, maturing on July 31, 2023.. The original amount financed has been correctly recorded. Interest was paid and recorded on April 1 and October 1. \f1. Enter the unadjusted balances on the 1worksheet {columns C 3-: D}. 2. Identify and prepare all required entries. This includes all adjusting entries as 1well as any.r correcting entries. Include all calculations. where applicable. Descriptions ofthe journal entries are NOT required. Create any new accounts which may be needed [ie. Depreciation expense}. 3. Post the entries to the worksheet {complete columns E 3:. F]. 4. Complete columns H 3: I on the worksheet and then prepare an Adjusted Trial Balance at December 31, Hill in proper format using the tab "Adjusted Trial Balance\". Be sure to prepare the adjusted trial balance in a logical manner by element Him: in order ofwhere them:r are reported on the nancial statements, unlike the adjusted trial balance provided, which is in alphabetical order}. \f