1. At July 31, Michelle owed employees $2,260 in salaries that the company will pay in August. 2. On July 1, Michelle borrowed $22,500 from a local bank on a 1-year note. The annual interest rate is 8%. Interest will be paid with the note at maturity. 3. Service revenue unrecorded in July totaled $1,810. Prepare the adjusting entries needed at July 31, 2025. (List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation 1. Debit Credit 2. 3.