Prepare adjusting entries for the seven items described:

Garrett Wolfe Company has the following balances in selected accounts on December 31, 2012 Accounts Receivable Accumulated Depreciation-Equipment Equipment Interest Payable Notes Payable Prepaid Insurance Salaries and Wages Payable Supplies Unearned Service Revenue $ 0 0 7,000 0 10,000 2,100 0 2,450 40,000 All the accounts have normal balances. The information below has been gathered at December 31, 2012 I. Garrett Wolfe Company borrowed $10,000 by signing a 12%, one-year note on September 1, 2012 2. A count of supplies on December 31, 2012, indicates that supplies of $900 are on hand 3. Depreciation on the equipment for 2012 is $1,000 4. Garrett Wolfe Company paid $2,100 for 12 months of insurance coverage on June 1, 2012 5. On December 1, 2012, Garrett Wolfe collected $30,000 for consulting services to be performed from December 1, 2012, through March 31, 2013 6. Garrett Wolfe performed consulting services for a client in December 2012. The client will be billed $4,200 7. Garrett Wolfe Company pays its employees total salaries of $9,000 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 2012 Prepare adjusting entries for the seven items described above. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)