ACR 4.3 On August 1, 2020, the following were the account balances of B&B Repair Services. Debit Cash 6,040 Accounts receivable 2,910 Notes receivable 4,000 Supplies 1,030 Equipment 10,000 23.980 Credit Accumulated Depreciation- 600 Equipment Accounts Payable 2.300 Unearned service revenue 1260 Salaries and Wages Payable 1,420 Share Capital-ordinary 16,300 Retained Earnings 2.100 23.980 During August, the following summary transactions were completed. Aug. 1 Paid $400 cash for advertising in local news papers. Advertising flyers will be included with newspapers delivered during August and September Paid August rent $380 5 Received $ 1,200 cash from customers in payment on account Paid $3.120 for salaries due employees, of which $ 1,700 is for August and $ 1.420 is for July salaries payable. 12 Received $2,800 cash for services performed in August 15 Purchased store equipment on account $ 2.000 20 Paid creditors $2,000 of accounts payable due 22 Purchased supplies on account S 800 25 Paid $2,900 cash for employees salaries 27 Billed customers $ 3.760 for services performed. 29 Received $ 780 from customers for services to be performed in the future Adjustment data: A count shows supplies on hand of $960. 2 Accrued but unpaid employees' salaries are $1,540. 3 Depreciation on equipment for the month is $ 320. 4 Services were performed to satisfy $ 800 of uneared service revenue 5 One month's worth of advertising services has been received One month of interest revenue related to the $ 4,000 note receivable has accrued. The 4- month note has a 6% annual interest rate. Instruction a Enter the August 1 balances in the ledger accounts (Use T-accounts). b Journalize the August transactions C Post to the leger accounts. (use T-accounts) d Prepare a trial balance at August 31. e Journalize and post adjusting entries f Prepare an adjusted trial balance. Prepare the income statement and a retained earnings statement for August and a classified 9 statement of financial position at August 31 h Journalize and post closing entries and complete the closing process. 1 Prepare a post-closing trial balance at August 31