The trial balance before adjustment of Heis Delivery Services at the end of its first month of operations follows:

Heis Delivery Services Trial Balance June 30, 2021
		Debit		Credit
Cash		$4,600
Prepaid Insurance		12,000
Supplies		1,500
Equipment		115,200
Notes Payable				$73,600
Accounts Payable				3.000
Unearned Revenue				17,000
A. Heis, Capital				45,000
A. Heis, Drawings		4,500
Service Revenue				23,000
Salaries Expense		19,600
Advertising Expense		1,900
Repairs Expense		900
Rent Expense		1,400
		$161,600		$161,600

Additional Information:

1.		The note payable was issued on June 1 to purchase the equipment. The note is due in two years, on June 1, 2023, and carries interest at the rate of 6%. The principal is due at maturity and the interest is payable at the beginning of each month.
2.		Additional advertising costs of $100 have been incurred during the month of June, but the invoices were not received until July 10.
3.		Customers having received delivery services in June but for whom invoices had not yet been issued amounted to $4,000. Invoices were issued on July 5.
4.		Employees are paid a combined total of $200 per day for a five-day work week from Monday to Friday. As at June 30, a Monday, one day of salaries are unpaid. The next payday is Friday, July 4.

Prepare the adjusting entry at June 30 and subsequent entry (if required) in July for each of the above transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

No.		Date	Account Titles and Explanation	Debit	Credit
1.		June 30
		July 1
2.		June 30
		July 10
3.		June 30
		July 5
4.		June 30
		July 4

Answer rating: 100% (QA)

No Date Account Titles and Explanation Debit Credit 1 June 30 Interest Expense 368 Interest Paya... View the full answer