ACR4.3 (LO2,3,4), AP On August 1,2025 , the following were the account balances of BaB Repair Joumalite trunsactions and follow Services. through accounting grile to preparatiun of financlal itarements. During August, the following summary transactions were completed. Aug. 1 Pald 5400 cash for advertising in local newsapers. Advertising fyers will be included with newspapers delivered during August and September. 3. Paid August rent 5380 . 5 Recelved $1,200 cash from customers in payment of account. 10 Paid 53,120 for salaries due employees, of which 51,700 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. 4-64 CHAPTER 4 Accrual Accounting Concepts 20 Paid creditors 52.000 of accounts payable due- 22 Purchased supplies on account 5800. 25 Paid 52.900 cash for employeer' salariex. 27 Billed cussomens 53,760 foe services performed. 29 Received $700 from cautomers for services to be performed in the future. Adjustment data: 1. A count shows supplies on hand of 5960 . 2. Accrued but unpaid employeer' salaries are 51,540 . 3. Depreciation on equipment for the month is 5320 . 4. Services were performed to satisfy 5500 of unearned service revenue. 5. One month's worth of advertising services has been received. 6. One mionth of interest revenoe related to the $4,000 note receivable has accrued. The 4-month note has a 67 annual interect rate. (Hiet Use the formula from Illustration 419 to compute interest.) Instructions a. Enter the August 1 balances in the letger accounts. (Use T-accounts.) b. Journalize the Augut transactions c. Post to the ledger accounts. Busis chart of accounts includes Prepaid Advertising, Interest Receivable, Service Revedue, Intereit Revenue, Advertising Expense, Depreciation Expense. Supplies Expense, Salaries and Wages Expense, and Rent Expense. 4. Prepare a trial halance at Ausust 31 . e. Journalize and poet adfuating eatries. f. Cash $2,020 f. Prepare an adjurted trial balance Tot, adj. trial balanceg.NetlossetatAugast31.532,580s. g. Prepare an income statemezt and a retained earnings statement for August and a classified balance h. Journalize and post cloning entries asd complefe the cloting process. 1. Prepare a post-cloting trial baluse at August 31