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Adjusting entries Verne Cova Company has the following (prepaid expenses, unearned revenue, accrued expense, or accrued revenue) is needed in each situation at December 313,

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Verne Cova Company has the following (prepaid expenses, unearned revenue, accrued expense, or accrued revenue) is needed in each situation at December 313, 2015. All the accounts have normal balance. The information below has been gathered at December 31, 2015. Verne Cova Company borrowed $10.000 by signing a 12%, one-year note on September 1, 2015. A count of supplies on December 31, 2015. Indicate that supplies of $900 are on hand. Depreciation on the equipment for 2015 is $1,000. Verne Cova Company paid $2.100 for 12 months of insurance coverage on June 1, 2015 On December 1, 2015. Verne Cova collected $30,000 for consulting services to be performed from December 1. 2015. through March 31, 2016. Verne Cova performed consulting services for a client in December 2015. The client will be billed $4, 200. Verne Cova Company pays its employees total salaries of $9,000 every Monday for the preceding 5-day week (Monday through Friday). On Monday. December 29, employees were paid for the week ending December 26. All employees worked the last 3 day, of 2015

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