Current Attempt in Progress On August 1, 2025, the following were the account balances of Swifty Repair Services. Debit Credit Cash $7,130 Accumulated Depreciation-Equipment $710 Accounts Receivable 3,430 Accounts Payable 2,710 Notes Receivable 4,800 Unearned Service Revenue 1,490 Supplies 1,220 Salaries and Wages Payable 1,680 Equipment 11,800 Common stock 14,200 Retained Earnings 7,590 28,380 28,380 During August, the following summary transactions were completed. Aug. 1 Paid $470 cash for advertising in local newspapers. Advertising flyers will be included with newspapers delivered during August and September. 3 Paid August rent $450. 5 Received $1,420 cash from customers in payment of account. 10 Paid $3,680 for salaries due employees, of which $2,000 is for August and $1,680 is for July salaries payable. 12 Received $3,300 cash for services performed in August. 222222 15 Purchased store equipment on account $2,360. 20 Paid creditors $2,360 of accounts payable due. Purchased supplies on account $940. 25 Paid $3,420 cash for employees' salaries. 27 Billed customers $4,440 for services performed. 29 Received $920 from customers for services to be performed in the future. Adjustment data: 1. A count shows supplies on hand of $1,130. 2. Accrued but unpaid employees' salaries are $1,820. 3. Depreciation on equipment for the month is $380. 4. Services were performed to satisfy $940 of unearned service revenue. 5. One month's worth of advertising services has been received. 6. One month of interest revenue related to the $4,800 note receivable has accrued. The 4-month note has a 6% annual interest rate. Swifty's chart of accounts includes Prepaid Advertising, Interest Receivable, Service Revenue, Interest Revenue, Advertising Expense, Depreciation Expense, Supplies Expense, Salaries and Wages Expense, and Rent Expense. (h) Journalize and post closing entries and complete the closing process. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Post entries in the order of journal entries presented.) Date Account Titles and Explanation Aug. 31 Service Revenue Interest Receivable Income Summary (To close revenue accounts) Aug. 31 Income Summary Aug. 31 Rent Expense Advertising Expense Salaries and Wages Expense Supplies Expense Depreciation Expense (To close expense accounts) Retained Earnings Income Summary (To close net loss to retained earnings) Debit 8680 24 8704 Credit 8704 450 235 7240 5440 9090 8/1 Bal. Cash 7,130 8/1 470 8/5 1,420 8/3 450 8/12 3,300 8/10 3,680 8/29 920 8/20 2,360 8/25 3,420 8/31 Bal. 2,390 8/1 Bal. Accounts Receivable 3,430 8/5 8/27 4,440 8/31 Bal. 6,450 8/1 Bal. 8/31 Bal. Notes Receivable 4,800 4,800 Interest Receivable 8/31 8/31 Bal. 24 24 1,420 Supplies 8/1 Bal. 1,220 8/31 1,030 8/22 8/31 Bal. 940 1,130 8/1 8/31 Bal. Prepaid Advertising 470 8/31 235 235 Equipment 8/1 Bal. 11,800 8/15 2,360 8/31 Bal. 14,160 Accumulated Depreciation-Equipment 8/1 Bal. 710 8/31 380 8/31 Bal. 1,090 Accounts Payable 8/20 2,360 8/1 Bal. 2,710 8/15 2,360 8/22 940 8/31 Bal. 3,650 8/31 8/10 Unearned Service Revenue 940 8/1 Bal. 1,490 8/29 920 8/31 Bal. 1,470 Salaries and Wages Payable 1,680 8/1 Bal. 1,680 8/31 1,820 8/31 Bal. 1,820 Common Stock 8/1 Bal. 8/31 Bal. Retained Earnings 8/1 Bal. Income Summary 14,200 14,200 7,590 Service Revenue 8/12 3,300 8/27 4,440 8/31 940 Interest Revenue 8/31 24 8/31 Depreciation Expense 380 8/31 Supplies Expense 1,030 8/10 Salaries and Wages Expense 2,000 8/25 3,420 8/31 1,820 8/31 8/31 Rent Expense 450 Advertising Expense 235