Question: A partial tabular summary for Crane Lake Lumber Supply on July 31, 2027, includes the following accounts before adjustments have been prepared. An analysis of





A partial tabular summary for Crane Lake Lumber Supply on July 31, 2027, includes the following accounts before adjustments have been prepared. An analysis of the company's accounts shows the following. 1. The investment in the notes receivable earns interest at a rate of 6% per year. 2. Supplies on hand at the end of the month totaled $19,344. 3. The balance in Prepaid Rent represents 4 months of rent costs. Three months of rent remain unexpired at the end of July. 4. Employees were owed $3,000 related to unpaid salaries and wages. 5. Depreciation on buildings is $6,240 per year. 6. During the month, the company satisfied obligations worth $4,888 related to the Unearned Service Revenue. 7. Unpaid maintenance and repairs costs were $2,392. Prepare a tabular summary to record adjustments on July 31 assuming that adjustments are made monthly. - Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. - Increases in expenses require a negative sign or parentheses. - Increases in Accumulated Depreciation require a negative sign or parentheses. Assets 2. 3. 4. 5. 6. 7
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