Your answer is partially correct. Mary Smith is the new owner of Mary's Computer Services. At the end of July 2022, her first month of ownership, Mary is trying to prepare monthly financial statements. She has the following information for the month. 1. 2. At July 31, Mary owed employees $1.110 in salaries that the company will pay in August. On July 1, Mary borrowed $21,000 from a local bank on a 10-year note. The annual interest rate is 8%. Service revenue unrecorded in July totaled $1,600. 3. Prepare the adjusting entries needed at July 31, 2022. (If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. Salaries and Wages Expense 2. 3. $1,600 $1,600 e Textbook and Media