Tribunal Law Services maintains its books using cash$-$basis accounting. However, the company decides to borrow $$100,000$ from a local bank, and the bank requires Tribunal to provide annual financial statements prepared using accrual$-$basis accounting as part of the creditworthiness verification. During $2024,$ the company records the following cash flows:

Cash collected from customers $$58,500$

Cash paid for:

Salaries $$34,700$

Supplies $2,700$

Rent $3,700$

Insurance $5,700$

Utilities $1,70048,500$

Net cash flows $$10,000$

You are able to determine the following information:

January $1,2024$ December $31,2024$

Accounts Receivable $ $19,700$ $ $21,400$

Prepaid Insurance $03,850$

Supplies $3,7002,150$

Salaries Payable $1,9004,550$