Javier Computer Services began operations in July 2020. At the end of the month, the company prepares

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Javier Computer Services began operations in July 2020. At the end of the month, the company prepares monthly financial statements.
It has the following information for the month.

At July 31, the company owed employees $1,300 in salaries that the company will pay in August.

On July 1, the company borrowed $20,000 from a local bank on a 10-year note. The annual interest rate is 12%.

Service revenue unrecorded in July totaled $2,400.

Prepare the adjusting entries needed at July 31, 2020.

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Financial and Managerial Accounting

ISBN: 978-1119392132

3rd edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Feb 13, 2020 07:07 AM

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Javier Computer Services began operations in July 2020. At the end of the month, the company prepares

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1 Salaries and Wages Expense 1300 Salaries and Wages Payable 1300 To rec...View the full answer

Financial and Managerial Accounting

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