Wildhorse Co. has the following balances in selected accounts on December 31, 2017. Wildhorse has a calendar year end.

Accounts Receivable$0Accumulated DepreciationEquipment0Equipment8,100Interest Payable0Notes Payable12,300Prepaid Insurance2,436Salaries Payable0Supplies2,480Unearned Revenue29,400

All the accounts have normal balances. The information below has been gathered at December 31, 2017.

1.Wildhorse Co. borrowed $12,300 by signing a 4%, one-year note on September 1, 2017.2.A count of supplies on December 31, 2017, indicates that supplies of $770 are on hand.3.Depreciation on the equipment for 2017 is $1,130.4.Wildhorse Co. paid $2,436 for 12 months of insurance coverage on June 1, 2017.5.On December 1, 2017, Wildhorse collected $29,400 for consulting services to be performed evenly from December 1, 2017, through March 31, 2018.6.Wildhorse performed consulting services for a client in December 2017. The client will be billed $3,000. Payment from the customer is expected on January 15, 2018.7.Wildhorse Co. pays its employees total salaries of $8,900 every Wednesday for the preceding five-day week (Monday through Friday). On Wednesday, January 3, 2018, employees were paid for the last five weekdays of 2017.

Prepare adjusting entries for the seven items described above.

Prepare the appropriate subsequent cash entries