Prepare the required adjusting journal entry for each situation as of December 31,2020. Ref. (a) Deana's Decorutinghad 51,800 of supplies on hand on December 1,2020 , When counting the supplies on December 31,2020, Deana's found only $800 worth of supplies on hand (b) Deana'shad paid \$12,000 for six months' rent on Novem ber 1, 2020. As of December, 31, 2020, two months 'November 8 December) prepaid rent has expired. (c) Deana'shad paid $6,000 for one year's insurance on June 1, 2020 (d) The companyhad acquired equipment costing $40,000 on lanvary 1,2020. The depreciation on this Equipment was calculated to be 52,000 for 2020 certificates for decorating services to a customer. On December 31, 2020, the accountant received an envelope: containing $400 worth of redeemed gift certificates, not yet recorded in the company's books. (f) On June 30, 2020, the company invested $20,000 in a certificate of deposit that will yield 12% interest at the end of ane year: (g) The company borrowed a note payable from the bank for $30,000 on danuary 1,2020 , due with all interest on june 30 , 2021. The note payable requires 10% interest. (h) The company calculated its income taxes as $26,110 for the year ended December 31,2020 . (i) On December 15,2020 , the company declared a $750 dividend, payable january 15, 2021, and did not record an entry on the 15 th. POSTINGTOT-ACCOUNTS PREPARATION OF ADJUSTED TRIAL BALANCE Use the balances in the T-accounts in Handout 42 to prepare an adjusted trial balance. FINANCLAL STATEMENTS Use the adjused trial balaace in Handout 4-3 to prepare in good form an income satement, a statement of retained earnings, and a classified balance sheet for Deana's Decorators. Revenues: Service Revenue Interest Revenue Total Revenues Expenses: Salaries and Wage Expense Utilities Expense Telephone Expense Supplies Expense Rent Expense: Insurance Expense Depreciation Expense Interest Expense Income Tax Expense Total kxpenses Net Income Deana's Decorators Balance, January I Add: Net Income Less Dividends Balance, December 31 Deana's Decorators Sheet Current Assets Cash Certificate of Deposit Supplies: Accounts Rcceivable. Interest Receivables Prepaid Rent Prepaid Iasurance Total Carrent Assets Property, Plant \& Equipment Less: Accumulated Depreciation Net Plant and Equipment Total Assets Current Liabilitics: Deana's Decorators Accounts Payable Dividends Payable Unearned Revenue Note Payable Interest Payable Income Taxes Payable Total Current Liabilities Contributed Capital Steckbolders' Equity Retained Farnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Prepare the required adjusting journal entry for each situation as of December 31,2020. Ref. (a) Deana's Decorutinghad 51,800 of supplies on hand on December 1,2020 , When counting the supplies on December 31,2020, Deana's found only $800 worth of supplies on hand (b) Deana'shad paid \$12,000 for six months' rent on Novem ber 1, 2020. As of December, 31, 2020, two months 'November 8 December) prepaid rent has expired. (c) Deana'shad paid $6,000 for one year's insurance on June 1, 2020 (d) The companyhad acquired equipment costing $40,000 on lanvary 1,2020. The depreciation on this Equipment was calculated to be 52,000 for 2020 certificates for decorating services to a customer. On December 31, 2020, the accountant received an envelope: containing $400 worth of redeemed gift certificates, not yet recorded in the company's books. (f) On June 30, 2020, the company invested $20,000 in a certificate of deposit that will yield 12% interest at the end of ane year: (g) The company borrowed a note payable from the bank for $30,000 on danuary 1,2020 , due with all interest on june 30 , 2021. The note payable requires 10% interest. (h) The company calculated its income taxes as $26,110 for the year ended December 31,2020 . (i) On December 15,2020 , the company declared a $750 dividend, payable january 15, 2021, and did not record an entry on the 15 th. POSTINGTOT-ACCOUNTS PREPARATION OF ADJUSTED TRIAL BALANCE Use the balances in the T-accounts in Handout 42 to prepare an adjusted trial balance. FINANCLAL STATEMENTS Use the adjused trial balaace in Handout 4-3 to prepare in good form an income satement, a statement of retained earnings, and a classified balance sheet for Deana's Decorators. Revenues: Service Revenue Interest Revenue Total Revenues Expenses: Salaries and Wage Expense Utilities Expense Telephone Expense Supplies Expense Rent Expense: Insurance Expense Depreciation Expense Interest Expense Income Tax Expense Total kxpenses Net Income Deana's Decorators Balance, January I Add: Net Income Less Dividends Balance, December 31 Deana's Decorators Sheet Current Assets Cash Certificate of Deposit Supplies: Accounts Rcceivable. Interest Receivables Prepaid Rent Prepaid Iasurance Total Carrent Assets Property, Plant \& Equipment Less: Accumulated Depreciation Net Plant and Equipment Total Assets Current Liabilitics: Deana's Decorators Accounts Payable Dividends Payable Unearned Revenue Note Payable Interest Payable Income Taxes Payable Total Current Liabilities Contributed Capital Steckbolders' Equity Retained Farnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity