Exercise 4-12

The ledger of Windsor, Inc. on July 31, 2017, includes the selected accounts below before adjusting entries have been prepared.

		Debit		Credit
Investment in Note Receivable		$24,000
Supplies		23,500
Prepaid Rent		3,200
Buildings		280,000
Accumulated DepreciationBuildings				$140,000
Unearned Service Revenue				11,900

An analysis of the companys 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 month totaled $15,200.
3.		The balance in Prepaid Rent represents 4 months of rent costs.
4.		Employees were owed $2,700 related to unpaid salaries and wages.
5.		Depreciation on buildings is $6,720 per year.
6.		During the month, the company satisfied obligations worth $4,800 related to the Unearned Services Revenue.
7.		Unpaid maintenance and repairs costs were $2,300.

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 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

No.	Date	Account Titles and Explanation	Debit	Credit
1.	July 31
2.	July 31
3.	July 31
4.	July 31
5.	July 31
6.	July 31
7.	July 31