Swifty Company has the following balances in selected accounts on December 31, 2022. Accounts Receivable Accumulated Depreciation-Equipment $0 0 Equipment 5.880 Interest Payable 0 Notes Payable 8.400 Prepaid Insurance 1764 Salaries and Wages Payable Suppites 2.058 Unearned Service Revenue 25.200 All the accounts have normal balances. The following information has been gathered at December 31, 2022 Swifty Company borrowed $8,400 by signing a 12%, 1-year note on September 1, 2022 Interest will be paid when the note is repaid. A count of supplies on December 31, 2022, indicates that supplies of $756 are on hand. 2 3. Depreciation on the equipment for 2022 is $840. 4 Swifty paid $1.764 for 12 months of insurance coverage on June 1, 2022 5 On December 1, 2022, Swifty collected $25,200 for consulting services to be performed evenly from December 1, 2022 through March 31 2023 6. Swifty performed consulting services for a client in December 2022. The client will be billed $3,528. 7. Swifty pays its employees total salaries of $7,560 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 Prepare adjusting entries for the seven items described above. Swifty prepares adjustments annually. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. 1. 2 Account Titles and Explanation Debit Credit