Monty Company has the following balances in selected accounts on December 31, 2022. Accounts Receivable Accumulated Depreciation-Equipment $0 0 Equipment 8,400 Interest Payable 0 Notes Payable 12,000 Prepaid Insurance 2,520 Salaries and Wages Payable 0 Supplies 2,940 Unearned Service Revenue 36,000 All the accounts have normal balances. The following information has been gathered at December 31, 2022. 1. Monty Company borrowed $12,000 by signing a 12%, 1-year note on September 1, 2022. Interest will be paid when the note is repaid. A count of supplies on December 31, 2022, indicates that supplies of $1,080 are on hand. 2. 3. Depreciation on the equipment for 2022 is $1,200. 4. Monty paid $2,520 for 12 months of insurance coverage on June 1, 2022. 5. 6. 7. On December 1, 2022, Monty collected $36,000 for consulting services to be performed evenly from December 1, 2022, through March 31, 2023. Monty performed consulting services for a client in December 2022. The client will be billed $5,040. Monty pays its employees total salaries of $10,800 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 2022.