Counterpoint Studios has completed all the entries for the month of November 2016, except the monthly adjusting entries. The following information is available to make the adjustments

Annual depreciation on property, plant, and equipment totals $9,000. Interest accrued on the bank loan is $500. Office supplies on hand are valued at $2,300. The annual insurance policy was purchased December 1, 2015 for $21,900. The balance of owner's equity at the beginning of November was $86,750.he annual insurance policy was purchased December 1, 2015 for $21,900. The balance of owner's equity at the beginning of November was $86,750.