Problem 1 (8 marks) (14 minutes) The December 31, 20x0, trial balance of SAK Inc. included the following accounts: Cash $956,000 Accounts receivable 30,000 Unearned service revenue 18,000 Supplies inventory 13,500 Prepaid insurance 12,000 Equipment 80,000 Accumulated depreciation-equipment 30,000 Salary expense 130,000 Additional data: An inventory count of supplies indicated $1,500 were still on hand at year end. The prepaid insurance represents the annual premium on a policy providing coverage starting September 1, 20x0. Since the last payday, employees have earned an additional $15,500 which has not yet been paid or recorded. The unearned revenue was for the annual rental of a warehouse starting October 31, 20x0. Services performed but unbilled and uncollected at year end amount to $9,250. Prepare the necessary year-end adjusting entries as of December 31, 2010