accounting

adjusting entries

1. Monthly amortization is $400 on the building and $200 on the equipment.

2. Certain dairy treats for which the customer had paid $400 in June, were delivered in July.

3. An inventory count of cleaning supplies at July 31 shows $900 on hand.

4. Rent for July of $900 was unpaid at July 31.

5. Insurance is paid at the rate of $200 per month.

6. Milk products worth $400 were delivered to the company on July 31, but the bill has not been received yet.

7. The note payable has an interest rate of 7% per year and is paid at the end of every calendar quarter.