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er 4 Homework Saved Help Sa Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate comple R For each of the following transactions for New Idea Corporation, prepare the adjusting journal entries required on July 31. (If no entu is required for a transaction/event, select "No Journal Entry Required" in the first account field.) a. Received a $620 utility bill for electricity usage in July to be paid in August. b. Owed wages to 15 employees who worked three days at $120 each per day at the end of July. The company will pay employees a the end of the first week of August. c. On July 1, loaned money to an employee who agreed to repay the loan in one year along with $1,320 for one full year of interest." interest has been recorded yet. Answer is complete but not entirely correct. No Transaction Debit General Journal Credit 620 1 Utilities Expense Accounts Payable 620 2 b 3.600 Salaries and Wages Expense Salaries and Wages Payable 3,600 O ere to search Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indica c On July 1, loaned money to an employee who agreed to repay the loan in one year along with $1,320 for one full year o interest has been recorded yet. Answer is complete but not entirely correct. NO Transaction Credit General Journal Debit 1 620 Utilities Expense Accounts Payable 620 2 b 3,600 Salaries and Wages Expense Salaries and Wages Payable 3,600 X 1,320 3 c Interest Receivable Interest Payable SIX 1,320 search