3. Using the following trial balance and the additional data, prepare the necessary adjusting journal entries for the month ended July 31, 2021. Ranger Repair Co. Trial Balance July 31, 2021 Cash $20,550 Accounts Receivable 37,800 Supplies 3,150 Prepaid Insurance 1,800 Equipment 17,000 Notes Payable $6,000 Accounts Payable 4,200 Unearned Revenue 24,000 Davis Capital 48,600 David Drawing 2,400 Service Revenue 24,000 Salaries Expense 19,500 Utilities Expense 4,600 _______ $106,800 $106,800 Additional Data: 

a) The equipment was purchased on July 1. It has an estimated life of 10 years. 

b) Supplies on hand at July 31, total $1,250. 

c) The insurance policy was purchased on July 1, covering a 12 month term. 

d) As of July 31, Ranger provided $1,500 of service to a client that has not been billed or recorded. 

e) July 31 is a Thursday, salaries of $10,000 are paid every other Friday for 10 days of service. The last payday was Friday, July 25. 

f) The Notes Payable was signed on July 1. The note has a 4% annual interest rate and a term (to maturity) of 9 months. 

g) The unearned revenue account balance of $24,000 represents fees collected in advance during July. As of July 31, one-half of the service has been provided.