Use the following information to prepare adjusting entries for Fargo on Dec. 31.

1. The note payable represents a two-year 7% bank loan borrowed on Oct. 1.

2. The 3,000 unearned rent revenue results from a payment that Fargo received on December 1 for rent of the next three months.

3. Sales revenue includes $1,500 received from a customer on November 1 for a custom pool table, which is scheduled for delivery next March.

4. Fargo routinely charges purchase of supplies to Supply Expenses. By Dec 31, Fargo has $500 supplies on hands.

5. Employee wages are paid twice a month on the 10th and 25th. Unpaid salary for December (26^th 31^st) is $1,600.

Unadjusted trial balance of Fargo: Debit Credit Note Payable 9,000 Equipment 7,000 Accounts Receivable 1,800 51,000 Sales Revenue 15,000 COGS Inventory 4,000 Unearned Rent Revenue 3,000 Supply Expenses 4,500 Cash 700 Wage Expenses 30,000