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Adjusting Entries Judy Rock began Rock Refinishing Service on July 1. Selected accounts are shown below as of July 31, before any adjusting entries have

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Adjusting Entries Judy Rock began Rock Refinishing Service on July 1. Selected accounts are shown below as of July 31, before any adjusting entries have been made: Debit Credit Prepaid rent $6,000 Prepaid advertising 930 Supplies 3.000 Unearned refinishing fees 800 Refinishing fees revenue 2,500 Using the following information, record in a general Journal the necessary adjusting entries on July 31 a. On July 1, the firm paid one year's rent of $6,000. b. On July 1, 5930 was paid to a local newspaper for an advertisement to run daily for the months of July, August and September c. Supplies on hand at July 31 total $1,100. d. At July 31, refinishing services of $975 have been performed but not yet billed to customers. The firm uses the account Fees Receivable to reflect amounts due but not billed. e. One customer paid $1,100 in advance for a refinishing project. At July 31, the project is one-half complete, Round your answers to the nearest dollar Debit Credit $ 0 $ 0 0 0 0 0 0 0 0 Date Description a. Jul.31 Refinishing Fees Revenue Prepaid Rent To record July rent expense. b. Jul.31 Advertising Expense-Office Equipment Prepaid Advertising To record July advertising expense. C. Jul 31 Supplies Expense Supplies To record supplies expense for July d. Jul 31 Fees Receivable Refinishing Fees Revenue To record unbilled revenue earned in July e. Jul.31 Unearned Refinishing Fees Refinishing Fees Revenue To record portion of advance fees earned in July 0 o 0 0 0 0 0 0 0 0 0 0

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