Windsor, Inc. has the following balances in selected accounts on December 31, 2019. Accounts Receivable...
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Windsor, Inc. has the following balances in selected accounts on December 31, 2019. 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 9,900 3,420 0 2,400 33,200 All the accounts have normal balances. The information below has been gathered at December 31, 2019. 1. Windsor, Inc. borrowed $9,900 by signing a 12%, one-year note on September 1, 2019. 2. A count of supplies on December 31, 2019, indicates that supplies of $950 are on hand. 3. Depreciation on the equipment for 2019 is $1,300. 4. Windsor, Inc. paid $3,420 for 12 months of insurance coverage on June 1, 2019. 5. On December 1, 2019, Windsor, Inc. collected $33,200 for consulting services to be performed from December 1, 2019, through March 31, 2020. 6. Windsor, Inc. performed consulting services for a client in December 2019. The client will be billed $4,000. N Windsor, Inc. pays its employees total salaries of $5,500 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 2019
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