CALCULATOR BAC PRINTER VERSION Do It! Review 3-03 Marigold Corp. began operations in July 2020. At the end of the month, the company prepares monthly financial statements. It has the following information for the month. 1. At July 31, the company owed employees $1,600 in salaries that the company will pay in August 2. On July 1, the company borrowed $28,000 from a local bank on a 10-year note. The annual interest rate is 15% 3. Service revenue unrecorded in July totaled $2,400. Prepare the adjusting entries needed at July 31, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1. 2. C 3