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Wildhorse Company has the following balances in selected accounts on December 31, 2022. Accounts Receivable Accumulated Depreciation-Equipment Equipment Interest Payable Notes Payable Prepaid Insurance
Wildhorse Company has the following balances in selected accounts on December 31, 2022. Accounts Receivable Accumulated Depreciation-Equipment Equipment Interest Payable Notes Payable Prepaid Insurance Salaries and Wages Payable Supplies Unearned Service Revenue $.0 0 10,080 0 14,400 3,024 0 3,528 43,200 All the accounts have normal balances. The following information has been gathered at December 31, 2022. 1. Wildhorse Company borrowed $14,400 by signing a 12%, 1-year note on September 1, 2022. Interest will be paid when the note is repaid. A count of supplies on December 31, 2022, indicates that supplies of $1,296 are on hand. 2 3. Depreciation on the equipment for 2022 is $1,440. 4. Wildhorse paid $3,024 for 12 months of insurance coverage on June 1, 2022.
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