1. 2 3. 4. 5. 6. 7. On July 31, the company had performed $830 of...

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1. 2 3. 4. 5. 6. 7. On July 31, the company had performed $830 of services for a client that it had not billed or recorded. Record rent expense this month. The current balance in Prepaid Rent represents 2 months of rent. Supplies on hand on July 31 were $530. Unrecorded monthly depreciation is $250. Interest is due on the note payable on the first day of each following month, beginning August 1. Interest for July is $2. As of July 31, the company owed $2.530 of salaries and wages to its employees for the month just ended During July, the company satisfied $2,030 worth of services related to amounts that had previously been recorded as Unearned Service Revenue. This revenue has not yet been recorded Prepare the adjusting entries for July 31. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts Credit account titles are automatically indented when the amount is entered. Do not indent manually) Date No. Account Titles and Explanation July 31 July 31 1 July 31 3. July 31 2 July 31 4 July 3 5. July 31 6. 7. Debit Credit 1000 Notes Receivable Supplies Prepaid Rent Buildings Accumulated Depreciation-Buildings. Unearned Service Revenue 1. 2. 3. An analysis of the company's accounts shows the following. 4. 5. 6. 7. Debit $24,000 23,500 3,200 280,000 Ma Credit $140,000 Dato Account Titlor and Evolanation 11,900 The investment in the notes receivable earns interest at a rate of 12% per year. Supplies on hand at the end of the month totaled $15,200. The balance in Prepaid Rent represents 4 months of rent costs. Employees were owed $2,700 related to unpaid salaries and wages. Depreciation on buildings is $6,720 per year. During the month, the company satisfied obligations worth $4,800 related to the Unearned Service Revenue. Unpaid maintenance and repairs costs were $2,300. Prepare the adjusting entries at July 31 assuming that adjusting entries are made monthly. Use additional accounts as needed. (List a debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) nohit Condit 1. 2 3. 4. 5. 6. 7. On July 31, the company had performed $830 of services for a client that it had not billed or recorded. Record rent expense this month. The current balance in Prepaid Rent represents 2 months of rent. Supplies on hand on July 31 were $530. Unrecorded monthly depreciation is $250. Interest is due on the note payable on the first day of each following month, beginning August 1. Interest for July is $2. As of July 31, the company owed $2.530 of salaries and wages to its employees for the month just ended During July, the company satisfied $2,030 worth of services related to amounts that had previously been recorded as Unearned Service Revenue. This revenue has not yet been recorded Prepare the adjusting entries for July 31. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts Credit account titles are automatically indented when the amount is entered. Do not indent manually) Date No. Account Titles and Explanation July 31 July 31 1 July 31 3. July 31 2 July 31 4 July 3 5. July 31 6. 7. Debit Credit 1000 Notes Receivable Supplies Prepaid Rent Buildings Accumulated Depreciation-Buildings. Unearned Service Revenue 1. 2. 3. An analysis of the company's accounts shows the following. 4. 5. 6. 7. Debit $24,000 23,500 3,200 280,000 Ma Credit $140,000 Dato Account Titlor and Evolanation 11,900 The investment in the notes receivable earns interest at a rate of 12% per year. Supplies on hand at the end of the month totaled $15,200. The balance in Prepaid Rent represents 4 months of rent costs. Employees were owed $2,700 related to unpaid salaries and wages. Depreciation on buildings is $6,720 per year. During the month, the company satisfied obligations worth $4,800 related to the Unearned Service Revenue. Unpaid maintenance and repairs costs were $2,300. Prepare the adjusting entries at July 31 assuming that adjusting entries are made monthly. Use additional accounts as needed. (List a debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) nohit Condit

Answer rating: 100% (QA)

Accrued Interest Income on Notes Receivable Debit Interest Receivable 24000 12 112 240 Credit Intere... View the full answer