The general ledger of Shell Storage Units at June 30, 2014, the end of the company's fiscal year, includes the following account balances before adjusting entries.

The additional data needed to develop the adjusting entries at June 30 are as follows:
a. The $20,000 short-term note payable was issued on February 28. It matures six months from date of issuance and bears interest at 6 percent.
b. The long-term debt is payable in annual installments of $50,000 with the next installment due on August 31. On that date, Shell Storage Units will also pay one year's interest at 3 percent. Interest was last paid on August 31 of the preceding year.
c. Gross salaries for the last payroll of the fiscal year were $6,328. Of this amount, employee payroll withholdings payable were $1,365, and salary payable was $4,963.
d. Employer Payroll Costs Payable was $820, and Shell Storage's liability for employee health insurance was $991.
e. Shell Storage estimates that vacation pay expense is 6 percent of gross salaries of $147,500 (the $147,500 includes the last payroll of the fiscal year).
f. On March 1, the company collected one year's rent of $18,000 in advance.
g. At June 30, Shell Storage is the defendant in a $200,000 lawsuit, which the company expects to win. However, the outcome is uncertain.
Required
1. Open T-accounts for the listed accounts, inserting their unadjusted June 30, 2014, balances.
2. Post the June 30, 2014, adjusting entries to the T-accounts opened. Round all amounts to the nearest whole dollar.
3. Prepare the liability section of Shell Storage Units' balance sheet at June 30, 2014.

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$ 20,000 Employee Insurance Benefits Payable Notes Payable, Short-Term Accounts Payable 235,620 Estimated Vacation Current Portion of $ 12,360 Pay Liability Sales Tax and GST Payable Long-Term Debt Payable 5,972 Interest Payable Salaries Payable Unearned Rent Revenue 18,000 Long-Term Debt Payable 250,000 Employee Income Tax Payable Employer Payroll Costs Payable