TE ACCOUNT DESCRIPTION REF DEBIT CREDIT 2. Complete the adjusting entries on p.1 of the general journal Physical inventory in the storeroom totaled $2,700. Kitchen equipment of $60,000 bought a year ago has a five-year useful life. Straight- line depreciation is used and the current month's depreciation needs to be adjusted. a. b. c. $600 of Prepaid Insurance is used during this month. d. Employees are paid on the 5th and 20th of each month. Daily salary amounts to $1,500. t expense accrued for March amounts to $250. Set up the Worksheet for COFFEE ETC in Sheet 2 of the EXCEL workbook. Complete the spreadsheet. Your controller has given you the information for the Trial Balance columns and wants to you enter the five adjustments in part (2) above in the adjustment columns and then fill out the rest of the worksheet (Adjusted Trial Balance, Income Statement, Balance Sheet columns) using all formulas so that in case a mistake is made in the adjustments, she can make the changes and all the numbers in the other three columns would be automatically corrected. 3. TE ACCOUNT DESCRIPTION REF DEBIT CREDIT 2. Complete the adjusting entries on p.1 of the general journal Physical inventory in the storeroom totaled $2,700. Kitchen equipment of $60,000 bought a year ago has a five-year useful life. Straight- line depreciation is used and the current month's depreciation needs to be adjusted. a. b. c. $600 of Prepaid Insurance is used during this month. d. Employees are paid on the 5th and 20th of each month. Daily salary amounts to $1,500. t expense accrued for March amounts to $250. Set up the Worksheet for COFFEE ETC in Sheet 2 of the EXCEL workbook. Complete the spreadsheet. Your controller has given you the information for the Trial Balance columns and wants to you enter the five adjustments in part (2) above in the adjustment columns and then fill out the rest of the worksheet (Adjusted Trial Balance, Income Statement, Balance Sheet columns) using all formulas so that in case a mistake is made in the adjustments, she can make the changes and all the numbers in the other three columns would be automatically corrected. 3