Question & Answer: 3-5 verne Cova Company has the following balances in selected accounts on December 31, 2017 Accounts Receivable s o Results by Stud…..

3-5 verne Cova Company has the following balances in selected accounts on December 31, 2017 Accounts Receivable s o Results by Study Interest Payable Notes Payable 10,200 2,940 Salaries and Wages Payable 2,700 Unearned Service Revenue All the accounts have normal balances. The information below has been gathered at December 31, 2017. 1. 2. Verne Cova Company borrowed $10,200 by signing a 12%, one-year note on September 1, 2017 A count of supplies on December 31, 2017, indicates that supplies of $860 are on hand. for 2017 IS $1,500. 4. Verne Cova Company paid $2,940 for 12 months of insurance coverage on June t, 2017, on the from December 1, 2017, through March 31, 2018. The company had December 1, 2017, Verne Cova colected $28,400 for consulting services to be performed performed 1/4 of the services by December 31 5. On services for a client in December 2017. The client will be billed $3,700. Monday for the greceding 5-day week (Monday through Friday). On Monday, December 29, Verne Cova Company employees were paid for the week 7. s ending Decermber 26. All ermployees worked the last 3 days of 2017 t titles are automatically Indented when the amount is entered. Do not indent