Seaver & Co., a CPA firm, prepare their own financial statements with a December 31 year-end.
1. As of December 31, Seaver & Co. have rendered $20,500 worth of services to clients for which they have not yet billed the client, and for which they
have not made any accounting entry.
2. Seaver & Co. owns equipment (computers, etc.) having an original cost of $12,000. The equipment has an expected life of six years.
3. On January 1, 1999, Seaver borrowed $15,000. Both principal and interest are due on December 31, 2000. The interest rate is 11 percent.
4. On January 1, 1999, Seaver rented storage space for three years. The entire three-year charge of $15,000 was paid at this time. Seaver correctly created a prepaid rent account in the amount of $15,000.
5. As of December 31, workers have earned $10,200 in wages that are unpaid and unrecorded.

Required
a. Record any necessary adjusting entries.
b. Post the journal entries to T-accounts.