The unadjusted trial balance for Lewis Fitness Centre as of December 31, 2014, follows:

Information necessary to prepare adjusting entries is as follows:
a. As of December 31, employees have earned $1,600 of unpaid and unrecorded wages. The next payday is January 4, and the total wages to be paid will be $2,400.
b. The cost of supplies on hand at December 31 is $3,600.
c. The note payable requires an interest payment to be made every three months. The amount of unrecorded accrued interest at December 31 is $2,500, and the next payment is due on January 15. This payment will be $3,000.
d. An analysis of the unearned membership fees shows that $32,000 remains unearned at December 31.
e. In addition to the membership fees included in the revenue account, the company has earned another $24,000 in fees that will be collected on January 21. The company is also expected to collect $14,000 on the same day for new fees earned during January. f. Depreciation expense for the year is $30,000.
Required
1. Prepare adjusting journal entries.
2. Prepare journal entries to reverse the effects of the adjusting entries that involve accruals.
3. Prepare journal entries to record the cash payments and collections that are described for January.

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Account Debit Credit 22,000 Cash Accounts ceivable Supplies Equipment Accumulated depreciation, equipment Interest payable Salaries payable Unearned membership fees Notes payable Bev Lewis, capital Bev Lewis, withdrawals Membership fees earned Depreciation expense, equipment Salaries expense Interest expense Supplies expense Totals 9,000 300,000 S 30,000 0- 48,000 100,000 116,500 60,000 180,000 76,000 7,500 $474,500 $474,500