Kinnon Co. purchased a $15,000 machine on account on October 1. It is estimated that annual depreciation on the machine will be $3,000. Accountants at Kinnon reviews and prepares financial statements every quarter. (HINT: Machine falls under Equipment.) Chart of Accounts Assets Cash Stockholders' Equity. Common Stock Accounts Receivable Retained Earnings Liabilities Accounts Payable Notes Payable Salaries and Wages Payable Taxes Payable Interest Payable Inventory Services Revenue Rent Revenue Supplies Prepaid Insurance Equipment Building Depreciation Expense Utilities Expense Salaries and Wages Expense Insurance Expense Interest Expense Land Accumulated Depreciation * List debit transactions first and then list credit transactions. * Use accounts provided in the Chart of Accounts above. Do NOT create your own account. Double check that you are not adding "s" or extra spaces for your input. Accounts MUST be typed as shown in the Chart of Accounts. No grade adjustment will be allowed if the instruction is not followed. * When typing your responses, do NOT include a dollar sign. For example, if your answer is $10,000, you should be typing 10,000 or 10,000.00 without any dollar sign. Prepare an adjusting journal on December 31 for Kinnon Co. using the Chart of Accounts assuming that no adjusting entries have been recorded until December 31. Date Account Titles and Explanation Debit ($) Credit ($) 12/31