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selected revenue) is needed E3.6 (LO 2, 3), AN Verne Cova Company has the following balances in selected accounts on Dece 31, 2022. Accounts
selected revenue) is needed E3.6 (LO 2, 3), AN Verne Cova Company has the following balances in selected accounts on Dece 31, 2022. Accounts Receivable Accumulated Depreciation-Equipment Equipment Interest Payable Notes Payable Prepaid Insurance Salaries and Wages Payable Supplies Unearned Service Revenue -0- -0- 7,000 -0- 10,000 2,100 -0- 2,450 30,000 All the accounts have normal balances. The following information has been gathered at December 31, 1. Verne Cova Company borrowed $10,000 by signing a 12%, 1-year note on September 1, 2022. Ins will be paid when the note is repaid. 2. A count of supplies on December 31, 2022, indicates that supplies of $900 are on hand. 3. Depreciation on the equipment for 2022 is $1,000. 4. Verne Cova paid $2,100 for 12 months of insurance coverage on June 1, 2022.
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