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You are required to post the adjustment journal entries for the following transactions. You are required to create an adjusted general ledger and adjusted trial balance based on the adjusted journal entries. You should create new accounts in the trial balance as needed. You are required to create month-end adjusted financial statement of the company- Income Statement, balance Sheet, and statement of retained earnings Use account names you are familiar with in your program of study. Use only the HST Payable account and HST paid on expenses account. Ignore decimal places. Round to the nearest dollar. Use all Excel functions where reasonable. Record all prepaid expenses to prepaid accounts. You must provide a short description for each journal entry. Ignore HST unless otherwise explicitly stated. Adjustment transactions: Accrue wages payable to Lan and Liz as of Jan 31. The telephone bill for January was received on Feb 7th in the amount of $250 + HST. Office supplies on hand were counted as $800 as of the end of the month. The utility bill for Jan was received on Feb 3rd in the amount of $200 (ignore HST). The company received a $2000 + HST advertising bill on Feb 13th for work completed in Jan. We estimate approximately 2.5% of accounts receivable are uncollectible. Use the Allowance for Doubtful accounts (AFDA) method. The company wants to record depreciation on a monthly basis using straight-line depreciation. . Computer - 3 year useful life with no residual value Furniture- 5 year useful life with $3,500 residual value Store equipment - 4 year useful life with $1,500 residual value Hint: You must review the Journal Entries tab and the Trial Balance tab for additional information for adjusting entries. Also note, that you should accrue HST on expenses that are accrued

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