Terrific Temps fills temporary employment positions for local businesses. Some businesses pay in advance for services; others are billed after services have been performed. Advanced payments are credited to an account entitled Unearned Fees. Adjusting entries are performed on a monthly basis. An unadjusted trial balance dated December 31, 2015, follows. (Bear in mind that adjusting entries have already been made for the first 11 months of 2015, but not for December.) Other data Accrued but unrecorded fees earned as of December 31, 2015, amount to $1, 500. Records show that $2, 500 of cash receipts originally records as unearned fees had been earned as of December 31. The company purchased a six-month insurance policy on September 1, 2015, for $1, 800. On December 1, 2015, the company paid its rent through February 26, 2016. Office supplies on hand at December 31 amount to $400. All equipment was purchased when the business first formed. The estimated life of the equipment at that time was 10 years (or 120 months). On August 1, 2015, the company borrowed $12,000 by signing a six-month, 8 percent note payable. The entire note, plus six months' accrued interest, is due on February 1, 2016. Accrued but unrecorded salaries at December 31 amount to $2, 700. Estimated income taxes expense for the entire year totals $15,000. Taxes are due in the first quarter of 2016