You have been assigned to examine the financial statements of Cheyenne Company for the year ended December 31, 2017. You discover the following situations.

1.		Depreciation of $3,000 for 2017 on delivery vehicles was not recorded.
2.		The physical inventory count on December 31, 2016, improperly excluded merchandise costing $19,300 that had been temporarily stored in a public warehouse. Cheyenne uses a periodic inventory system.
3.		A collection of $5,400 on account from a customer received on December 31, 2017, was not recorded until January 2, 2018.
4.		In 2017, the company sold for $3,600 fully depreciated equipment that originally cost $26,900. The company credited the proceeds from the sale to the Equipment account.
5.		During November 2017, a competitor company filed a patent-infringement suit against Cheyenne claiming damages of $226,500. The companys legal counsel has indicated that an unfavorable verdict is probable and a reasonable estimate of the courts award to the competitor is $127,500. The company has not reflected or disclosed this situation in the financial statements.
6.		Cheyenne has a portfolio of trading investments. No entry has been made to adjust to market. Information on cost and fair value is as follows.

		Cost		Fair Value
December 31, 2016		$90,700		$90,700
December 31, 2017		$86,200		$84,400

7.		At December 31, 2017, an analysis of payroll information shows accrued salaries of $11,100. The Salaries and Wages Payable account had a balance of $15,100 at December 31, 2017, which was unchanged from its balance at December 31, 2016.
8.		A large piece of equipment was purchased on January 3, 2017, for $41,600 and was charged to Maintenance and Repairs Expense. The equipment is estimated to have a service life of 8 years and no residual value. Cheyenne normally uses the straight-line depreciation method for this type of equipment.
9.		A $12,300 insurance premium paid on July 1, 2016, for a policy that expires on June 30, 2019, was charged to insurance expense.
10.		A trademark was acquired at the beginning of 2016 for $50,400. No amortization has been recorded since its acquisition. The maximum allowable amortization period is 10 years.

Assume the trial balance has been prepared but the books have not been closed for 2017. Assuming all amounts are material, prepare journal entries showing the adjustments that are required. (Ignore income tax considerations.)