Equipment was purchased on January 1, 2016 for $18,000. It has a useful life of 5 years and salvage value of $3,000. Cooperative Company uses the straight line method for depreciation calculation. Amount of the adjustment for depreciation: On October 1, 2017, Cooperative Company received $12,000 from a client for 4 months of service from October 1, 2017 through January 31, 2018. Amount of the adjustment for income earned: Cooperative Company signed a 2-year, $4,000 note payable on July 1, 2017 at 10% interest. Amount of the adjustment for interest accrued: Cooperative Company pays employees every two weeks. The next payday is January 6, 2018. On December 31, 2017, employees have earned $2, 400 in wages. Amount of the adjustment for wages accrued