DEBIT CREDIT Cash 39,000 Accounts Receivable 6,000 Supplies 2,000 Prepaid Insurance 1,200 Equipment 12,000 Accum Deprec-Equipment 2,900 Notes Receivable [2025] 8,000 Accounts Payable 5,000 Wages Payable 4,000 Unearned Fees 24,000 Common Stock, $1 Par 10,000 Dividends 3,000 Retained Earnings 9,000 Fees Earned 42,000 Depreciation Expense 1,500 Wages Expense 23,000 Utilities Expense 1,200 TOTALS 96,900 96,900 The following additional information is available at year end is provided for year end adjusting journal entries. 1. Supplies on hand at the end of the period [based on a physical count] is $500. 2. Insurance was purchased in advance on December 1st 2021 for 24 months of monthly premium. 3. Interest on the note receivable is 8%. The note receivable was received on January 1st, 2021. 4. The company owed $1,200 of wages at December 31st, 2021. 5. The unadjusted unearned fees at December 31, 2021 represents 18 months of revenues that was to be earned in equal amounts over the contract term. The contract was signed on October 1st, 2021.