Verne Cova Company has the following balances in selected accounts on December 31, 2017 Accounts Receivable Accumulated Depreciation-Equipment Equipment Interest Payable Notes Payable Prepaid Insurance Salaries and Wages Payable Supplies Unearned Service Revenue $0 0 8,000 0 9,800 3,660 0 2,600 28,400 All the accounts have normal balances. The information below has been gathered at December 31, 2017 1. 2. 3. 4. 5. Veme Cova Company borrowed $9,800 by signing a 12%, one-year note on September 1, 2017 A count of supplies on December 31, 2017, indicates that supplies of $900 are on hand. Depreciation on the equipment for 2017 is $1,500. Verne Cova Company paid $3,660 for 12 months of insurance coverage on June 1, 2017. On December 1, 2017, Verne Cova collected $28,400 for consulting services to be performed from December 1, 2017, through March 31, 2018. The company had performed 1/4 of the services by December 31. Verne Cova performed consulting services for a client in December 2017. The client will be billed $4,500. Verne Cova Company pays its employees total salaries of $9,500 every Monday for the preceding 5-day week (Monday through Friday). On Monday, December 29, employees were paid for the week ending December 26. All employees worked the last 3 days of 2017. 6. 7. Prepare adjusting entries for the seven items described above. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)