The following information relates to the Wallstrom Company at the end of 2017. The accounting period is the calendar year.

1.Employees are paid every Friday for the five-day week ending on that day. Salaries amount to $4,000 per week. The accounting period ends on a Tuesday.

2.A note for $5,000 was received from a customer in a sales transaction on April 1, 2017. The note matures in one year and bears 8% interest.

3.On September 1, 2017, Wallstrom borrowed $10,000 cash by signing a note payable due in one year at 6% interest.