Part $7$ Prepare a Post$-$Closing Trial Balance using the updated T$-$accounts. Total debit check figure:$$ $$810,450$ The following information relates to Gatsby, Inc. as of December $31$ of the current year. The company uses the calendar year as its annual reporting period and the Accrual Method of Accounting. Prepaid and unearned items are recorded as assets and liabilities, respectively. Prepare all necessary adjusting journal entries and post to the T$-$accounts.

$2$ Eighteen months earlier, on July $1$st the company purchased equipment that cost $\backslash (\backslash$$ $160,000\backslash ).$ Its useful life is predicted to be ten years, at which time the equipment is expected to have a zero salvage$/$residual value. Gatsby, Inc. uses the straight$-$line depreciation method. Depreciation has NOT been recorded for this year.

$3$ On September $1$st of the current year Gatsby, Inc. was paid $\backslash$$$60,000$ in advance of future installation of alarm systems in $4$ new homes. The amount was credited to the Unearned Revenue $-$ Alarms account. Between September $1$st and December $31$st$,$ complete alarm systems were installed in $2$ homes. The completed jobs have not been recorded.

$4$ On October $1$st of the current year the company purchased a $12-$month insurance policy for $\backslash (\backslash$$ $18,000\backslash ).$ The transaction was recorded with a debit to the Prepaid Insurance account. Insurance expense has not been recorded for October, November nor December.

$5$ On December $30$ of the current year the company completed an $\backslash$$$32,000$ job that has not been billed$/$invoiced and therefore has not been recorded.

$6$ A $\backslash$$$150,000$ long$-$term note payable was signed on August $1$st of the current year. It is a five$-$year note with a $\backslash (7\backslash \%\backslash )$ interest rate. Interest expense as not been accrued for this year. Round your answer to the nearest dollar.

$7$ Supplies at the beginning of the current year had a balance of $\backslash (\backslash$$ $300\backslash ).$ Supplies valued at $\backslash (\backslash$$ $2,800\backslash )$ were purchased thoughout the year. The current balance in the account is $\backslash (\backslash$$ $400\backslash ).$

$8$ Depreciation on the building is calculated using the straight$-$line depreciation method. Gatsby estimates depreciation on the building over a $25$ year period and a zero salvage$/$residual value.