The ledger of Monty Corp.on July 31, 2022, includes the following selected accounts before adjusting entries...

  

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The ledger of Monty Corp.on July 31, 2022, includes the following selected accounts before adjusting entries have been prepared. Debit Credit Supplies $ 31,200 Prepaid Rent 4,680 Buildings 325,000 Accumulated Depreciation-Buildings $182,000 Unearned Service Revenue 14,950 An analysis of the company's accounts shows the following. 1. Supplies on hand at the end of the month totaled $24,180. The balance in Prepaid Rent represents 4 months of rent costs. Employees were owed $4,030 related to unpaid and unrecorded salaries and wages. Depreciation on buildings is $7.800 per year. During the month, the company satisfied obligations worth $6,110 related to the Unearned Services Revenue. 2. 3. 4. 5. 6. Unpaid and unrecorded maintenance and repairs costs were $2,990, Prepare the adjusting entries at July 31 assuming that adjusting entries are made monthly The ledger of Monty Corp.on July 31, 2022, includes the following selected accounts before adjusting entries have been prepared. Debit Credit Supplies $ 31,200 Prepaid Rent 4,680 Buildings 325,000 Accumulated Depreciation-Buildings $182,000 Unearned Service Revenue 14,950 An analysis of the company's accounts shows the following. 1. Supplies on hand at the end of the month totaled $24,180. The balance in Prepaid Rent represents 4 months of rent costs. Employees were owed $4,030 related to unpaid and unrecorded salaries and wages. Depreciation on buildings is $7.800 per year. During the month, the company satisfied obligations worth $6,110 related to the Unearned Services Revenue. 2. 3. 4. 5. 6. Unpaid and unrecorded maintenance and repairs costs were $2,990, Prepare the adjusting entries at July 31 assuming that adjusting entries are made monthly

Answer rating: 100% (QA)

Date General Journal Debit Credit 31Jul Supplies Expense 7020 Supplies 7020 312... View the full answer