Sandhill Company has the following balances in selected accounts on December 31, 2022. Accounts Receivable $0 Accumulated Depreciation-Equipment 0 Equipment 7,000 Interest Payable o Notes Payable 10,000 Prepaid Insurance 2,880 Salaries and Wages Payable 0 Supplies 2,000 Unearned Service Revenue 28,000 All the accounts have normal balances. The information below has been gathered at December 31, 2022. Interest will be paid when the note is repaid. 1. 2. 3. 4. Sandhill Company borrowed $11,200 by signing a 9%, one-year note on September 1, 2022. A count of supplies on December 31, 2022, indicates that supplies of $950 are on hand. Depreciation on the equipment for 2022 is $1,500. Sandhill paid $2,880 for 12 months of insurance coverage on June 1, 2022. On December 1, 2022, Sandhill collected $28,000 for consulting services to be performed evenly from December 1, 2022, through March 31, 2023. Sandhill performed consulting services for a client in December 2022. The client will be billed $4,000. Sandhill pays its employees total salaries of $5,100 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 5. 6. 7. Prepare adjusting entries for the seven items described above. Devin Wolf prepares adjustments annually. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) TIM Question 23 of 24 > - /20 1 Interest Expense Interest Payable 2 Supplies Expense Supplies 3. Depreciation Expense Accumulated Depreciation Equipment 4. Insurance Expense Prepaidiwurance 5 Uneared Service Revenue Service Revenue 6 Accounts Receivable Service Reverse 7 5aries and Wages Expense