Current Attempt in Progress Novak Corp. has the following balances in selected accounts on December 31, 2019. $0 7,000 Accounts Receivable Accumulated Depreciation-Equipment Equipment Interest Payable Notes Payable Prepaid Insurance Salaries and Wages Payable Supplies Unearned Service Revenue 10,100 2,700 O 2,100 28,400 All the accounts have normal balances. The information below has been gathered at December 31, 2019. 1. Novak Corp. borrowed $10,100 by signing a 12%, one-year note on September 1, 2019. 2. A count of supplies on December 31, 2019, indicates that supplies of $950 are on hand. 3. Depreciation on the equipment for 2019 is $2,200. 4. Novak Corp. paid $2,700 for 12 months of insurance coverage on June 1, 2019. 5. On December 1, 2019, Novak Corp. collected $28,400 for consulting services to be performed from December 1, 2019, through March 31, 2020. 6. Novak Corp. performed consulting services for a client in December 2019. The client will be billed $3,500. 7 Novak Corp. pays its employees total salaries of $9,500 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 days of 2019. Prepare adjusting entries for the seven items described above. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit