$\backslash$table$[[$Land$,106,000,],[$Salaries and Wages Expense,$63,000,],[$Unearned Service Revenue,,$4,000],[$Totals$,$$$409,600,$$$409,600]]$

At fiscal year end, the following adjusting information was either not recorded or wrong entries made to the general ledger:

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a$.$ Insurance expired during the year, $$2,500$

b$.$ Bad debts expense for the year $$1,400$

c$.$ At the of every year, equipment is depreciated at $10\%$ on original cost

d$.$ Interest on Notes Payable is $1\%($APR$).$ The Notes were issued on December $1,2023$ and mature in $90$ days $(3$ months$).$

e$.$ Rent paid in advance on December $31,2024$ amounted to $$10,000($originally charged to rent expense$).$

f$.$ Salaries and wages unpaid at December $31,2024$ were $$5,500.$

g$.$ Of the unearned service revenue, $$1,600$ was earned on December $31,2024.$

h$.$ Service for $$8,000$ was offered to clients but clients were not invoiced by December $31,2024.$

i$.$ On December $31,2024,$ supplies on hand were valued at $$500($ $$1,500$ was used$)$

j$.$ An amount of $$7,000$ received from clients for work not yet done by December $31,2024$ was recorded as service revenue.

Instructions

i$)$ From the unadjusted trial balance and information given below it$,$ prepare annual adjusting entries on December $31,2024$

ii$)$ Prepare an adjusted trial balance on December $31,2024$

iii$)$ Prepare closing entries for nominal accounts on December $31,2024.$

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$(0)$

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