Ben Cartwright Pest Control has the following general ledger balances in selected accounts on December 31, 2010.
Accounts Receivable $5,000
Accumulated Depreciation, Equipment 0
Spraying Equipment 6,650
Interest Payable 0
Notes Payable 12,500
Prepaid Insurance 1,980
Salaries Payable 0
Supplies 3,500
Unearned Spraying Revenues 24,000
All accounts have normal balances. The information below has been gathered at December 31, 2010.
a. Depreciation on the equipment for 2010 is $1,150.
b. Ben Cartwright Pest Control borrowed $12,500 by signing a 6%, one-year note on July 1, 2010.
c. Ben Cartwright Pest Control pays its employees total salaries of $7,000 every Monday for the preceding 5-day week (Monday-Friday). On Monday, December 27, 2010, employees were paid for the week ending December 24, 2010. All employees worked the five days ending December 31, 2010.
d. On December 1, 2010, Ben Cartwright Pest Control collected $24,000 for disinfecting processes to be performed from December 1, 2010, through May 31, 2011.
e. A count of supplies on December 31, 2010, indicates that supplies of $750 are on hand.
Instructions: Prepare in journal form without explanations, the end of year adjusting entries for the items listed for Ben Cartwright Pest Control