cullumber company has the following balances

Question 1 of 2 2.38/5 Cullumber Company has the following balances in selected accounts on December 31, 2022 Accounts Receivable 50 Accumulated Depreciation-Equipment 0 Equipment 7.000 Interest Payable 0 Notes Payable 11.000 Prepaid Insurance 3.240 Salaries and Wages Payable 0 Supplies 2.500 Unearned Service Revenue 28,000 All the accounts have normal balances. The information below has been gathered at December 31, 2022. Interest will be paid when the note is repaid 1 Cullumber Company borrowed 510.800 by signing a 9% one year note on September 1, 2022. 2 A count of supplies on December 31, 2022, indicates that supplies of $980 are on hand. 3 Depreciation on the equipment for 2022 is 51.600. 4 Cullumber paid $3.240 for 12 months of insurance coverage on June 1, 2022. 5. On December 1, 2022. Cullumber collected $28,000 for consulting services to be performed evenly from December 1 2022. through March 31, 2023 ON 6. Cullumber performed consulting services for a client in December 2022. The client will be billed $3.600, All the accounts have normal balances. The information below has been gathered at December 31, 2022. Interest will be paid when the note is repaid. 1. Cullumber Company borrowed $10,800 by signing a 9% one year note on September 1, 2022 2. A count of supplies on December 31, 2022. indicates that supplies of S980 are on hand. 3. Depreciation on the equipment for 2022 is $1.600. 4. . Cullumber paid $3,240 for 12 months of insurance coverage on June 1, 2022 5. On December 1, 2022, Cullumber collected $28,000 for consulting services to be performed evenly from December 1. 2022, through March 31, 2023. 6. Cullumber performed consulting services for a client in December 2022. The client will be billed $3,600 7. Cullumber pays its employees total salaries of $5,400 every Monday for the preceding 5-day week (Monday through Friday). On Monday, December 29, employees were paid for the weekending December 26. All employees worked the last 3 days of 2022 Prepare adjusting entries for the seven items described above. Devin Wolf prepares adjustments annually. (List ail debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually) Debit Credit No. Account Titles and Explanation 11772 1. 11772 213075 I! No. Account Titles and Explanation Debit Credit 1. 11772 11772 2. 980 980 3. Supplies 1600 1600 4 3240 3240 28000 5. 5. 28000 3600 6. 3600 3240 7. 3240