Answer options: ACCOUNTS PAYABLE, ACCOUNTS RECEIVABLE, ACCUMULATED DEPRECIATION, ADVERTISING EXPENSE, CASH, DEPRECIATION EXPENSE, EQUIPMENT, FEES REVENUE, INSURANCE EXPENSE, INTEREST INCOME, INTEREST RECEIVABLE, PREPAID ADVERTISING, PREPAID INTEREST, PREPAID RENT, RETAINED EARNINGS, SERVICE FEES EARNED, SUPPLIES, SUPPLIES EXPENSE, UNEARNED FEES REVENUE, WAGES EXPENSE, WAGES PAYABLE, N/A.

Assessing Financial Statement Effects of Adjustments L. Burnett began Burnett Refinishing Service on July 1. Selected accounts are shown below as of July 31, before any accounting adjustments have been made. Prepaid rent $13.800 Prepaid advertising 1.260 Supplies 6,000 Unearned refinishing fees 1,200 Refinishing fees revenue 5,000 Using the following information, prepare the accounting adjustments necessary on July 31 using the financial statement effects template. a. On July 1, the firm paid one year's rent of $13,800 in cash. b. On July 1, $1,260 cash was paid to the local newspaper for an advertisement to run daily for the months of July, August, and September. c. Supplies still available at July 31 total $2,200. d. At july 31, refinishing services of $1,600 have been performed but not yet recorded or billed to customers. The firm uses the fees receivable account to reflect amounts due but not yet billed. e. In early July, a customer paid $1,200 in advance for a refinishing project. At July 31, the project is one-half complete. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. Balance Sheet Liabilities Income Statement Expenses Transaction Cash Asset Contrib. Capital Revenues = Net Income 1.150 - (1,150) Cash Prepaid Rent Prepaid Rent x Prepaid Rent X Rent Expense Earned Capital (1.150) Prepaid Rent (420) Prepaid Advertising (3.800) b. 420 = Noncash Assets S (1.150) = Prepaid Rent $ (420) = Prepaid Advertising S (3.800) = Supplies 1,600 = Interest Receivable x (420) Prepaid Advertising X Prepaid Advertising x Prepaid Advertising Advertising Expense c. 3.800 = (3.800) X Supplies X Supplies X Supplies x Supplies Supplies Expense 1,600 1,600 - 1,600 X Unearned Fees Revenue Unearned Fees Revenue Unearned Fees Revenue x Unearned Fees Revenue X Cash e. (600) 600 600 600 - * Unearned Fees Revenue X Service Fees Earned X Service Fees Earned X Service Fees Earned Service Fees Earned Wages Expense Activate Windows Please answer all parts of the