April $30$ Received $$555,000$ from Commerce Bank after signing a $12-$month, $7$ percent,

promissory note.

June $6$ Purchased merchandise on account at a cost of $$72,000.($Assume a perpetual

inventory system.$)$

July $15$ Paid for the June $6$ purchase.

August $31$ Signed a contract to provide security service to a small apartment complex

starting in September, and collected six months' fees in advance,

amounting to $$22,200.$

December $31$ Determined salary and wages of $$37,000$ were earned but not yet paid as of

December $31($ignore payroll taxes$).$

December $31$ Adjusted the accounts at year$-$end, relating to interest.

December $31$ Adjusted the accounts at year$-$end, relating to security service.

Required:

& $2.$ Prepare journal entries for each of the transactions through August $31$ and adjusting entries required on

December $31.$

Show how all of the liabilities arising from these items are reported on the balance sheet at December $31.$

Answer is not complete.

Complete this question by entering your answers in the tabs below.

Req $1$

and $2$

Req $3$

Prepare journal entries for each of the transactions through August $31$ and adjusting

entries required on December $31.($Do not round intermediate calculations. If no entry is

required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account

field.$)$

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