E3-5 Devin Wolf Company has the following balances in selected accounts on December 31, 2017 -0- Accounts Receivable $ -0- Accumulated Depreciation Equipment -- Equipment 7,000 Interest Payable Notes Payable 10,000 Prepaid Insurance 2,100 Salaries and Wages Payable -- Supplies 2,450 Unearned Service Revenue 30,000 All the accounts have normal balances. The information below has been gathered at December 31, 2017 1. Devin Wolf Company borrowed $10,000 by signing a 9%, one-year note on September 1, 2017. 2. A count of supplies on December 31, 2017, indicates that supplies of $900 are on hand. 3. Depreciation on the equipment for 2017 is $1,000. 4. Devin Wolf Company paid $2,100 for 12 months of insurance coverage on June 1, 2017. 5. On December 1, 2017, Devin Wolf collected $32,000 for consulting services to be per- formed from December 1, 2017, through March 31, 2018. 6. Devin Wolf performed consulting services for a client in December 2017. The client will be billed $4,200. 7. Devin Wolf 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 days of 2017. Instructions Prepare adjusting entries for the seven items described above