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On December 31, adjusting information for Ayayai Corp. is as follows:
1. Estimated depreciation on equipment is $3,000.
2. Property taxes amounting to $2,500 have been incurred but are unrecorded and unpaid.
3. Employee wages that have been earned by employees but are unpaid and unrecorded amount to $3,500.
4. The Service Revenue account includes amounts that have been paid by customers for services that have not yet been completed. The amount has been determined to be $5,000.
5. Interest of $100 on a $25,000 note payable has not been recorded or paid.
Problem 1: Prepare the reversing entries, where appropriate.
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