The following is a simplified list of accounts and amounts reported in its accounting records at the beginning of its second quarter of operations on April 1, 2022. The accounts have normal debit or credit balances. Accounts Payable Accounts Receivable $ 600,000 Notes Payable (long-term) 300,000 Notes Payable (short-term) $ 200,000 500,000 Accumulated Depreciation 900,000 Prepaid Rent 100,000 Cash Common Stock 300,000 Rent Expense 400,000 200,000 Retained Earnings 1,500,000 Deferred Revenue 200,000 Salaries and Wages Expense 2,200,000 Depreciation Expense 300,000 Service Revenue 6,200,000 Equipment 3,200,000 Supplies 500,000 Income Tax Expense 300,000 Supplies Expense 200,000 Interest Revenue 100,000 Travel Expense 2,600,000 After the first quarter, MIX had the following transactions: a) Issued additional shares of common stock for $50,000 on April 15. b) Purchased equipment for $250,000 cash on May 1 c) Received $400,000 cash for future services on May 25. d) Borrowed $220,000 cash on July 1, 2022, signing a six-month note payable. e) Paid two-year insurance premium on equipment in the amount of $600,000 on July 1, 2022, and debited in full to Prepaid Insurance on that date. Coverage began on July 1. f) Purchased software on July 4, $30,000 cash. g) Purchased supplies on July 5 on account for future use, $7,000. h) Recorded revenues on December 6 of $550,000, including $80,000 on credit and $470,000 received in cash. i) Recognized salaries and wages expense on December 7 of $30,000; paid in cash. j) Collected accounts receivable on December 8, $90,000. k) Paid accounts payable on December 9, $100,000. Data for adjusting journal entries on December 31: 1) Amortization for 2022, $5,000. m) A physical count of supplies on December 31 showed Supplies costing $300,000 were still on hand. n) Depreciation for 2022, $40,000. o) Accrued interest of $5,000 on notes payable. p) Salaries and wages incurred but not yet paid or recorded, $30,000. q) Service provided but to be collected in January 2022, $45,000 r) Income tax expense for 2022 was $4,000 and will be paid in 2022. s) Six months of insurance on equipment has been used.