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2. Using the following additional information, prepare the adjusting entries on July 31,2020 (10 marks) a. Interest of $40 had accrued on the note receivable
2. Using the following additional information, prepare the adjusting entries on July 31,2020 (10 marks) a. Interest of $40 had accrued on the note receivable by month-end. b. The July utility bill for $175 was received in the mail on July 31 . It is unpaid and unrecorded. c. Depreciation on the furniture for the month of July is $210. d. The balance in Prepaid Insurance is from a six-month policy that went into effect on July 1, 2020. e. The company has two part-time employees, each of whom gets paid $315 every Friday for a five-day part-time workweek. July 31 falls on a Tuesday, therefore two days of accrued wages need to be recorded. f. At July 31 , it was determined that $4,900 of the balance in Unearned Tour Revenue was not yet earned. g. Accrued tour revenue of $1,600 was unrecorded and uncollected at July 31. Prepare the adjusting entries
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