Current Attempt in Progress On August 1, 2021, the beginning of its current fiscal year, the following opening account balances, listed in alphabetical order, were reported by Lily Ltd. Accounts payable $2,080 Accounts receivable 4,520 Accumulated depreciation-equipment 2,040 Cash 6,320 Common shares 11,600 Deferred revenue 1,240 Equipment 10,200 Interest receivable 20 Note receivable, due October 31, 2021 4,000 Retained earnings 7,740 Salaries payable 1,360 Supplies 1,000 E During August, the following summary transactions were completed. Aug. 1 Paid $380 cash for advertising in local newspapers. Advertising flyers will be included with newspapers delivered during August and September. (Hint: Use the Prepaid Advertising account.) 3 6 10 Paid August rent $400. (Hint: Use the Prepaid Rent account.) Received $3,510 cash from customers in payment of accounts. Paid $3,340 for salaries due employees, of which $1,980 is for August and $1,360 is for July salaries payable. 13 Received $3,780 cash for services performed in August. 15 Purchased additional equipment on account $1,850. 17 Paid creditors $1,850 of accounts payable due. 22 Purchased supplies on account $730. 24 Paid salaries $2,900. 27 Performed services worth $4,330 on account and billed customers. 29 Received $720 from customers for services to be provided in the future. 31 Declared and paid a $490 dividend. Question 1 of 1 8.2/100 E Prepare T accounts, enter any opening balances, post the general journal entries and calculate end balances. (Post entries in the order of journal entries presented in the previous part. If the ending balance is O select Bal for the date and enter O for the normal balance for that account.) Cash Accounts Receivable Accounts Receivable Prepaid Advertising Supplies Question 1 of 1 Prepaid Rent Note Receivable Interest Receivable Equipment Equipment Accumulated Depreciation - Equipment Accounts Payable Salaries Payable Deferred Revenue Common Shares Retained Earnings I Retained Earnings Dividends Declared Service Revenue Salaries Expense Salaries Expense H