adjusting entries

Pattersonco has continued to operate through December 31, 2013. After you used Excel spreadsheets to prepare the first month financial statement for Pattersonco in January 2013, Pattersonco started using a computerized accounting system to record journal entries and prepare financial statements. On January 16, 2014, you discovered that a computer virus has destroyed all accounting information recorded in the accounting software. Unfortunately, you still kept the spreadsheet for journal entries, ledger accounts, and financial statements you prepared in January 2013. The owner James Patterson also has printed out a balance sheet for the year ended on December 31, 2013 (see the appendix) for loan application. To sort out this disaster, you decided to update the permanent ledger accounts by making one-time adjusting entries to corresponding ledger accounts based on the first month records and the year-end year- end balance sheet. Please update the ledger accounts you prepared in January 2013 to ready the accounts for the next accounting cycle (i.e., 2004). (Note: For 2014, you will use Excel spreadsheets to record transactions and prepare financial statements)