Splish was founded in January 2013. Presented below are adjusted and unadjusted trial balances as of December 31, 2020. SPLISH TRIAL BALANCE DECEMBER 31, 2020 Unadjusted Adjusted Dr. Cr. Dr. Cr. Cash $ 15,000 $ 15,000 Accounts Receivable 19,500 23,700 Supplies 6,400 1,000 Prepaid Insurance 3,000 2,450 Equipment 69,000 69,000 Accumulated Depreciation—Equipment $ 33,000 $ 39,000 Accounts Payable 4,000 4,000 Interest Payable - 0- 270 Notes Payable 9,000 9,000 Unearned Service Revenue 6,200 4,900 Salaries and Wages Payable – 0– 1,300 Common Stock 17,000 17,000 Retained Earnings 7,000 7,000 Service Revenue 57,900 63,400 Salaries and Wages Expense 16,300 17,600 Insurance Expense 550 Interest Expense 300 570 Depreciation Expense 6,000 Supplies Expense 5,400 Rent Expense 4,600 4,600 $ 134,100 $ 134,100 $ 145,870 $ 145,870 (a) Journalize the annual adjusting entries that were made

Lipman auto parts, a family-owned auto parts store, began january with $10,300.00 in cash. management forecasts that collections from credit customers will be $11,400.00 in january and $14,800.00 in february. the store is scheduled to receive $5,000.00 in cash on a business note receivable in january. projected cash payments include inventory purchases ($13,000.00 in january and $13,600.00 in february) and operating expenses ($2,700.00 each month). lipman auto parts' bank requires a $10,000.00 minimum balance in the store's checking account. at the end of any month when the account balance dips below $10,000.00, the bank automatically extends credit to the store in multiples of $1,000.00. lipman auto parts borrows as little as possible and pays back loans in quarterly installments of $2,000.00, plus 4 percent interest on the entire unpaid principal. the first payment occurs three months after the loan.