Penny's Pool Service & Supply, Incorporated $($PPSS$)$ is completing the accounting process for the first year of operations

ended on December $31.$ Transactions during the year have been Journalized and posted. The following trial balance

reflects the unadjusted balances on December $31$:

a$.$ PPSS owed $$9,400$ in wages to the office receptlonist and three assistants for working the last $10$ days in December.

The employees will be pald in early next year.

b$.$ On October $1$ of the current fiscal year, PPSS recelved $$29,700$ from customers who prepald pool cleaning service

for one year beginning on November $1$ of the current year.

c$.$ The company recelved a $$710$ utllity bill for December utillty usage. It will be pald early next year.

d$.$ PPSS borrowed $$83,000$ from a local bank on August $1,$ signing a one$-$year, $12$ percent note. The note and interest

are due on August $1$ of next year.

e$.$ On December $31,$ PPSS cleaned and winterized a customer's pool for $$990,$ but the service was not yet recorded on

December $31.$

f$.$ On November $1$ of the current fiscal year, PPSS purchased a two$-$year Insurance policy for $$7,200,$ with coverage

beginning on that date. The amount was recorded as Prepald Expenses when pald.

g$.$ On December $31,$ PPSS had $$4,700$ of pool cleaning supplies on hand after purchasing supplies costing $$27,300$

during the year from Pool Corporation, Incorporated.

h$.$ PPSS estimated that depreclation on its buildings and equipment was $$10,200$ for the year.

I. At December $31,$ $$300$ of interest on investments was earned that will be recelved in the next year.

J$.$ The company's income tax rate for the year was $22$ percent.