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Question 4 Application of "Adjust the accounts; construct the financial statements" Consider the unadjusted trial balance of WOW, Inc., at July 31, 2014, and the related month end adjustment data. A1 D G WOW, Inc. Trial Balance Worksheet July 31, 2014 1 Adjustments Debit Credit Adjusted Trial Balance Debit Credit Trial Balance Debit Credit 9,500 1,600 3,000 2.100 90,000 3,000 3,200 Account 4. Cash 5 Accounts receivable 6 Prepaid rent Supplies 8 Furniture ormule 9 Accumulated depreciation furniture 101 10 Accounts payable 11 Salary payable 12 Common stock 13 Retained earnings 14 Dividends 1 Sen 15 Service revenue 16 Solano 16 Salary expense 1 Post 17 Rent expense 18 Utilities expense 19 Depreciation expense 20 Supplies expense 21 Total 22 14,000 76,060 3,900 17,700 3,400 460 113.960 113,960 Adjustment data at July 31, 2014: a. Accrued service revenue at July 31, $3,950. b. Prepaid rent expired during the month. The unadjusted prepaid balance of $3,000 relates to the period July 1, 2014, through September 30, 2014. C. Supplies used during July, $1,630. d. Depreciation on furniture for the month. The estimated useful life of the furniture is five years. e. Accrued salary expense at July 31 for Monday, Tuesday, and Wednesday. The five-day weekly payroll of $15,000 will be paid on Friday. Requirements 1. Using Exhibit as an example, prepare the adjusted trial balance of WOW, Inc., at July 31, 2014. Key each adjusting entry by letter. 2. Prepare the single step monthly income statement, the statement of retained earnings, and the classified balance sheet. Draw arrows linking the three statements