Wildhorse Company has the following balances in selected accounts on December 31, 2022.

Accounts Receivable $ 0

Accumulated DepreciationEquipment 0

Equipment 10,080

Interest Payable 0

Notes Payable 14,400

Prepaid Insurance 3,024

Salaries and Wages Payable 0

Supplies 3,528

Unearned Service Revenue 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%, one-year note on September 1, 2022. Interest will be paid when the note is repaid.

2. A count of supplies on December 31, 2022, indicates that supplies of $1,296 are on hand.

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.

5. On December 1, 2022, Wildhorse collected $43,200 for consulting services to be performed evenly from December 1, 2022, through March 31, 2023.

6. Wildhorse performed consulting services for a client in December 2022. The client will be billed $6,048.

7. Wildhorse pays its employees total salaries of $12,960 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 2022.

Prepare adjusting entries for the seven items described above. Wildhorse prepares adjustments annually. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

No. Account Titles and Explanation Debit Credit

1. Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount

2. Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount

3. Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount

4. Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount

5. Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount

6. Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount

7. Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount.