Assumption: XYZ Company began operations on August 1, XXX0. At the end of August XXX0, management prepares monthly financial statements. The following information relates to August. 1. At August 31, the company owed its employees $800 in salaries and wages that will be paid on September 1. 2. On August 1, the company borrowed $30,000 from a local bank on a 15-year mortgage, 10% annual interest rate. 3. Revenue for services performed but unrecorded for August 31, XXX0 for $1,100. Actions to take:Prepare the Adjusting Journal Entries