Shellhammer Company has the following balances in selected accounts on December 31,2019. All the accounts have normal balances. The information below has been gathered at December 31 , 2022. 1. Shellhammer Company borrowed $30,000 by signing a 12%, one-year note on October 1,2022 . 2. A count of supplies on December 31,2022 , indicates that supplies of $700 are on hand. 3. Depreciation on the equipment for 2022 is $2,000. 4. Shellhammer Company paid $2,520 for 12 months of insurance coverage on August 1, 2022. 5. On December 1,2022 , Shellhammer collected $50,000 for consulting services to be performed from December 1, 2022, through March 31, 2023. 6. Shellhammer performed consulting services for a client in December 2022. The client will be billed $5,300. 7. Shellhammer Company pays its employees total salaries of $12,000 every Monday for the preceding 5-day week (Monday through Friday). On Monday, December 30, employees were paid for the week ending December 27. All employees worked the last 2 days of 2022