Do It Review 3 3 Javier Computer Services began operations in July 2015 At the end of the month the company is trying to prepare monthly financial statements It has the following information for the month 1 At July 31, the company owed employees $1,220 in salaries that the company will pay in August 2 On July 1, the company borrowed $23,700 from a local bank on a 10 year note The annual interest rate is 13 3 Service revenue unrecorded in July totaled $2,626 Prepare the adjusting entries needed at July 31, 2015 (Round answers to 0 decimal places, e g 125 Credit account titles are automatically indented when the amount is entered Do not indent manually )

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Question: Do It! Review 3-3 Javier Computer Services began operations in July 2015. At the end of the month the company is trying to prepare monthly

Do It! Review 3-3

Javier Computer Services began operations in July 2015. At the end of the month the company is trying to prepare monthly financial statements. It has the following information for the month.

1.		At July 31, the company owed employees $1,220 in salaries that the company will pay in August.
2.		On July 1, the company borrowed $23,700 from a local bank on a 10-year note. The annual interest rate is 13%.
3.		Service revenue unrecorded in July totaled $2,626.

Prepare the adjusting entries needed at July 31, 2015. (Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

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