1. Journalize the six adjusting entries required at July 31, based on the data presented. Refer to the Chart of Accounts for exact wording of account titles.

Instructions Selected account balances before adjustment for Atlantic Coast Realty at July 31, the end of the current year, are as follows: Debits Credits Accounts Receivable $ 72,900 349,200 Equipment Accumulated Depreciation - Equipment Prepaid Rent $117,900 8,850 Supplies 3,020 Wages Payable Unearned Fees Fees Earned 13,000 657,700 Wages Expense 335,800 Rent Expense Depreciation Expense Supplies Expense Data needed for year-end adjustments are as follows: Unbilled fees at July 31, $10,500. Supplies on hand at July 31, $900. Rent expired, S6,300. Depreciation of equipment during year, $8,650. Unearned fees at July 31, $1,590. Wages accrued but not paid at July 31, $4,710. Required: 1. Journalize the six adjusting entries required at July 31, based on the data presented. Refer to the Chart of Accounts for exact wording of account titles. 2. What would be the effect on the income statement if the adjustments for unbilled fees and accrued wages were omitted at the end of the year? 3. What would be the effect on the balance sheet if the adjustments for unbilled fees and accrued wages were omitted at the end of the year? 4. What would be the effect on the "Net increase or decrease in cash" on the statement of cash flows if the adjustments for unbilled fees and accrued wages were omitted at the end of the year? Chart of Accounts General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 42 Rent Revenue 12 Accounts Receivable 13 Supplies 14 Prepaid Rent EXPENSES 15 Land 16 Equipment 17 Accumulated Depreciation-Equipment 51 Advertising Expense 52 Insurance Expense 53 Rent Expense LIABILITIES 21 Accounts Payable 54 Wages Expense 55 Supplies Expense 56 Utilities Expense 57 Depreciation Expense 59 Miscellaneous Expense 22 Unearned Fees 23 Wages Payable 24 Taxes Payable EQUITY 31 Owner's Equity 32 Withdrawals