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Exercise 4-12 The ledger of Monty Corp. on July 31, 2017, includes the selected accounts below before adjusting entries have been prepared Debit Credit $16,000

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Exercise 4-12 The ledger of Monty Corp. on July 31, 2017, includes the selected accounts below before adjusting entries have been prepared Debit Credit $16,000 Investment in Note Receivable 22,500 Supplies Prepaid Rent 6,000 Buildings 240,000 $130,000 Accumulated Depreciation-Buildings Unearned Service Revenue 10,800 An analysis of the company's accounts shows the following. 1. The investment in the notes receivable learns interest at a rate of 12% per year 2. Supplies on hand at the end of the month totaled $15,000. 3. The balance in Prepaid Rent represents 4 months of rent costs. 4. Employees were owed $3,500 related to unpaid salaries and wages. 5. Depreciation on buildings is $4,200 per year. 6. During the month, the company satisfied obligations worth $4,700 related to the Unearned Services Revenue. 7. Unpaid maintenance and repairs costs were $2,050. Prepare the adjusting entries at July 31 assuming that adjusting entries are made monthly. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

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