Wildhorse had the following account balances at December 31, 2023: During 2024, the following transactions occurred: 1. Sales of paninis for cash were $654,000, and sales of paninis on account were $60,000. 2. Purchases of ingredients were $176,000, all on account. 3. Collections from customers for sales on account totalled $18,100. 4. The company paid $45,300 for utilities expenses. 5. Ingredients with a cost of $200,000 were used in paninis that were sold. 6. Payments for ingredients purchased on account totalled $221,000. 7. The company paid $95,500 for wages. 8. A dividend of $35,200 was declared and paid at the end of the year. Information for adjusting entries: 9. The balance in the Supplies account at the end of 2024 was $1,200. 10. Wages owed to employees at the end of 2024 were $3,520. 11. At the end of 2024, the account balance in Prepaid Insurance was $1,500. 12. The equipment had an estimated useful life of eight years with a residual value of $3,000. Your answer is partially correct. Enter the beginning balances from 2023, post the 2024 entries, and calculate the balance in each account. (Post entries in the order of journal entries presented in the previous part. If beginning balance is zero, enter 0 in the column for the normal balance for that account.) Accounts Receivable Supplies Supplies Bal. 9. Bal. Bal, : 5. Prepaid Insurance Equipment Bal. \& Bal. : Accumulated Depreciation, Equipment Accounts Payable Wages Payable Bal. 6000 Bal. 0 Wages Payable Bal, 1^ 6000 Bal. : 0 Bal. : 6000 Bal. \% Common Shares Bal. * 75000 Bal. 0 Retained Earnings Bal. 67500 Bal. : 0 Dividends Declared Bal. 0 Bal. 0 8. 35200 Sales Revenue Sales Revenue Cost of Goods Sold Supplies Expense Bal. * Bal. * 48800 48800 Bal, Bal. v Bal. 4 Utilities Expense Bal. Bal. 0 4. 45300 Utilities Expense Bal : Insurance Expense Bal. Bal. 0 11. 1500 Wildhorse had the following account balances at December 31, 2023: During 2024, the following transactions occurred: 1. Sales of paninis for cash were $654,000, and sales of paninis on account were $60,000. 2. Purchases of ingredients were $176,000, all on account. 3. Collections from customers for sales on account totalled $18,100. 4. The company paid $45,300 for utilities expenses. 5. Ingredients with a cost of $200,000 were used in paninis that were sold. 6. Payments for ingredients purchased on account totalled $221,000. 7. The company paid $95,500 for wages. 8. A dividend of $35,200 was declared and paid at the end of the year. Information for adjusting entries: 9. The balance in the Supplies account at the end of 2024 was $1,200. 10. Wages owed to employees at the end of 2024 were $3,520. 11. At the end of 2024, the account balance in Prepaid Insurance was $1,500. 12. The equipment had an estimated useful life of eight years with a residual value of $3,000. Your answer is partially correct. Enter the beginning balances from 2023, post the 2024 entries, and calculate the balance in each account. (Post entries in the order of journal entries presented in the previous part. If beginning balance is zero, enter 0 in the column for the normal balance for that account.) Accounts Receivable Supplies Supplies Bal. 9. Bal. Bal, : 5. Prepaid Insurance Equipment Bal. \& Bal. : Accumulated Depreciation, Equipment Accounts Payable Wages Payable Bal. 6000 Bal. 0 Wages Payable Bal, 1^ 6000 Bal. : 0 Bal. : 6000 Bal. \% Common Shares Bal. * 75000 Bal. 0 Retained Earnings Bal. 67500 Bal. : 0 Dividends Declared Bal. 0 Bal. 0 8. 35200 Sales Revenue Sales Revenue Cost of Goods Sold Supplies Expense Bal. * Bal. * 48800 48800 Bal, Bal. v Bal. 4 Utilities Expense Bal. Bal. 0 4. 45300 Utilities Expense Bal : Insurance Expense Bal. Bal. 0 11. 1500