Problem 3-5A

Sunland Company has the following balances in selected accounts on December 31, 2017. Sunland has a calendar year-end.

Accounts Receivable		$	0
Accumulated DepreciationEquipment			0
Equipment			7,200
Interest Payable			0
Notes Payable			9,600
Prepaid Insurance			2,004
Salaries Payable			0
Supplies			2,680
Unearned Revenue			30,200

All the accounts have normal balances. The information below has been gathered on December 31, 2017.

1.		Sunland Company borrowed $9,600 by signing a 4%, one-year note on September 1, 2017.
2.		A count of supplies on December 31, 2017, indicates that supplies of $930 are on hand.
3.		Depreciation on the equipment for 2017 is $830.
4.		Sunland Company paid $2,004 for 12 months of insurance coverage on June 1, 2017.
5.		On December 1, 2017, Sunland collected $30,200 for consulting services to be performed evenly from December 1, 2017, through March 31, 2018.
6.		Sunland performed consulting services for a client in December 2017. The client will be billed $3,100. Payment from the customer is expected on January 15, 2018.
7.		Sunland Company pays its employees total salaries of $10,300 every Wednesday for the preceding five-day week (Monday through Friday). On Wednesday, January 3, 2018, employees were paid for the last five weekdays of 2017.

Prepare the appropriate subsequent cash entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)