Debra king is the new owner of debras computer services at the end of july 2022, her

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Debra king is the new owner of debras computer services at the end of july 2022, her first month of ownership, debra is trying to prepare monthly financial statements she has the following information for the month

1. At july 31, debra owed employees $1,850 in salaries that the company will pay in august.

2. On july 1, debra borrowed $21,000 from a local bank on a 12 year note the annual interest rate is 8%.

3. Service revenue unrecorded in july totaled $1,600.

Prepare the adjusting entries needed at July 31, 2022 .

Related Book For answer-question

Essentials of Entrepreneurship and Small Business Management

ISBN: 978-0134741086

9th edition

Authors: Norman M. Scarborough, Jeffrey R. Cornwall

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Posted Date: Aug 20, 2020 03:32 PM

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Debra king is the new owner of debras computer services at the end of july 2022, her

Question:

No. Account Titles and Explanation Debit Credit 1. 3. 2. No. Account Titles and Explanation Debit Credit 1. 3. 2.

Expert Answer:

Journal entries in the books of Debras Computer on July 2022 Entries posted on 31072022 Par... View the full answer

Essentials of Entrepreneurship and Small Business Management

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