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Kristian Teleki operates a consulting service for businesses wanting to open stores in new locations. The business's general ledger had the following balances for the fiscal year ended April 30, 2015. Additional information: 1) Prepaid insurance is a one year policy purchased on November 1, 2014. 2) Supplies were counted April 30 . The cost value of the inventory was $\$ 360$. 3) The building was purchased May 1, 2010. Its estimated useful life is 40 years and salvage value is $\$ 5000$. Teleki uses straight-line amortization for the building. 4) The office furniture was purchased May 1, 2010. Its estimated useful life is 10 years and salvage value is $\$ 1700$. Teleki uses straight-line amortization for the furniture. 5) The equipment is being amortized using declining balance method and a $30 \%$ rate. 6) The copier is rented from a company which requires six months rent in advance. The $\$ 700$ rent was paid on March 1. 7) Uncollectible accounts are estimated at $5 \%$ of accounts receivable. REQUIRED: Prepare the worksheet. Record the adjusting entries and closing entries in the General Journal.

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