Question 3 of 9 View Policies < Current Attempt in Progress Sandhill Company has the following balances in selected accounts on December 31, 2020 Accounts Receivable Accumulated Depreciation-Equipment 50 0 Equipment 6,000 Interest Payable 0 Notes Payable 11,000 Prepaid Insurance 2,280 Salaries and Wages Payable 0 Supplies Unearned Service Revenue 2.300 31,000 All the accounts have normal balances. The information below has been gathered at December 31, 2020 1. 2 3. 4. 5. 6. 7. Sandhill Company borrowed $8,400 by signing a 9%, one-year note on September 1, 2020 A count of supplies on December 31, 2020, indicates that supplies of $900 are on hand Depreciation on the equipment for 2020 is $1,000 Sandhill Company paid $2.280 for 12 months of insurance coverage on June 1, 2020 On December 1, 2020, Sandhill collected $31,000 for consulting services to be performed from December 1, 2020 through March 31, 2021. The company had performed 1/4 of the services by December 31 Sandhill performed consulting services for a client in December 2020. The client will be billed $4.500. Sandhill Company pays its employees total salaries of $5,700 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 2020. Prepare adjusting entries for the seven items described above. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) No. Account Titles and Explanation L 5. eTestbook and Media Debit Credit