The ledger of Armour Lake Lumber Supply on July 31, 2020, includes the selected accounts below before adjusting entries have been prepared.

An analysis of the company€™s accounts shows the following.
1. The notes payable pays interest at a rate of 6% per year.
2. Supplies on hand at the end of the month totaled $18,600.
3. The balance in Prepaid Rent represents 4 months of rent costs.
4. Employees were owed $3,100 related to unpaid salaries and wages.
5. Depreciation on buildings is $6,000 per year.
6. During the month, the company satisfied obligations worth $4,700 related to the Unearned Services Revenue.
7. Unpaid maintenance and repairs costs were $2,300.

Instructions
Prepare the adjusting entries at July 31 assuming that adjusting entries are made monthly. Use additional accounts as needed.

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Credit Debit Notes Payable Supplies Prepaid Rent Buildings Accumulated Depreciation-Buildings $ 20,000 $ 24,000 3,600 250,000 140,000 11,500 Unearned Service Revenue