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Exercise 4-12 The ledger of Wildhorse Co. on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared. Debit Credit Investment
Exercise 4-12 The ledger of Wildhorse Co. on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared. Debit Credit Investment in Note Receivable $18,000 Supalies 22,000 Prepaid Rent 5,600 Buildings 250,000 Accumulated Depreciation Buildings $120,Daa Uncamed Service Revenue 19,200 An analysis of the company's accounts shows the following. 1. The investment in the notes receivable earns interest at a rate of 12% per year. 2. Supplies on hand at the end of the manth totaled $15,400. 3. The balance in Prepaid Rent represents 4 months of rent casts. 4. Employees were owed $3,500 related to unpaid salaries and wages. 5. Depreciation on buildings is $4,560 per year 6. During the month, the company satisfied obligations worth $1,800 related to the Unearned Services Revenue 7. Unpaid maintenance and repairs posts were $2,250. for the amounts. Credit account titles are automatically Indented when the 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 ttles and enter amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1. July 31 2. July 31 7. July 31 Click if you would like to Show Work for this question: Open Show Work
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