Exercise 3-5 partially correct answer. your answer is partially correct. try again. splish brothers inc. has the following balances in selected accounts on december 31, 2019. accounts receivable $ 0 accumulated depreciation—equipment 0 equipment 7,000 interest payable 0 notes payable 9,800 prepaid insurance 2,820 salaries and wages payable 0 supplies 2,700 unearned service revenue 31,200 all the accounts have normal balances. the information below has been gathered at december 31, 2019. 1. splish brothers inc. borrowed $9,800 by signing a 12%, one-year note on september 1, 2019. 2. a count of supplies on december 31, 2019, indicates that supplies of $850 are on hand. 3. depreciation on the equipment for 2019 is $1,900. 4. splish brothers inc. paid $2,820 for 12 months of insurance coverage on june 1, 2019. 5. on december 1, 2019, splish brothers inc. collected $31,200 for consulting services to be performed from december 1, 2019, through march 31, 2020. 6. splish brothers inc. performed consulting services for a client in december 2019. the client will be billed $4,200. 7. splish brothers 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. prepare adjusting entries for the seven items described above