On December 31^st, the end of the current fiscal year, the following information was available to aid Lincoln Company's accountants in making the adjusting entries: Among the liabilities of the company is mortgage payable in the amount of $240,000. The accrued interest on this mortgage to $12,000. On June 1^st, the company, which is on a five day workweek and pays employees weekly and pays employees weekly, will pay its regular salaries employees $19, 200 (December 31^st is on Wednesday). On June 1^st, the company signed a contract and received the cash to provide to a new client at an annual rate of $3, 600 The supplies account showed a beginning balance of $1, 615 and purchases during the year of $3, 766. The end year inventory revealed supplies on hand of $1, 186. The prepaid Insurance account showed balance of $4800, which was paid on October 1^st and will cover the insurance expense for 1 year. The following table contain the cost and annual depreciation for building and equipment, all of which were purchased before the current year. On June 1, the company provided services to a client worth $25,000. The client will pay better and signed a promissory note for 1 year. The note bears annual interest of 8%. The company calculated that as June 30 it had earned $3, 500 on contract that should be billed