A. The company's weekly payroll is $3,000 and is paid each Friday for a five-day work week. Assume December 31st falls on a Monday, but the employees will not be paid their wages until Friday, January 3rd. B. Eighteen months earlier, on July 1st the company purchased equipment that cost $160,000. Its useful life is predicted to be twenty years, at which time the equipment is expected to have a zero salvage/residual value. Gatsby, Inc. uses the straight-line depreciation method. Deprecation has NOT been recorded for this year. C. On September 1st of the current year Gatsby, Inc. was paid $45,000 in advance of future installation of alarm systems 3 new homes. The amount was credited to the Unearned Revenue - Alarms account. Between September 1st and December 31st alarm systems were installed in 1 home, completing that job. D. On October 1st of the current year the company purchased a 12-month insurance policy for $24,000. The transaction was recorded with a debit to the Prepaid Insurance account. Insurance expense has not been recorded for November nor December 0 1 E. On December 30 of the current year the company completed an $38,000 job that has not been billed/invoiced and therefore has not been recorded. F. 2 3 24 25 26 27 28 29 A $150,000 long-term note payable was signed on August 1st of the current year. It is a five-year note with a 6% interest rate. Interest expense as not been accrued for this year. G. Supplies at the beginning of the current year had a balance of $ 300. Supplies valued at $4,200 were purchased thoughout the year. The current balance in the account is $400