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 ad $11,040 1,008 4,800 960 4,000 Prepaid rent Prepaid advertising Supplies Unearned refinishing fees Refinishing fees revenue Using the following information, prepare the accounting adjustments necessary on July 31 using the financial stateme a. On July 1, the firm paid one year's rent of $11,040 in cash. b. On July 1, $1,008 cash was paid to the local newspaper for an advertisement to run daily for the months of July, Au c. Supplies still available at July 31 total $1,760. d. At July 31, refinishing services of $1,280 have been performed but not yet recorded or billed to customers. The firm e. In early July, a customer paid $960 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 Note: Indicate a decrease in an account category by including a negative sign with the amount.