Instructions Prospect Realty Co. pays weekly salaries of $17,920 on Monday for a six-day workweek ending the preceding Saturday. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Friday. Refer to the Chart of Accounts for exact wording of account titles. Round your answer to the nearest dollar. CHART OF ACCOUNTS Prospect Realty Co. General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 12 Accounts Receivable 13 Supplies EXPENSES 14 Prepaid Insurance 51 Advertising Expense 52 Insurance Expense 15 Land 53 Rent Expense 16 Equipment 17 Accumulated Depreciation-Equipment 54 Salaries Expense 55 Supplies Expense LIABILITIES 56 Utilities Expense 21 Accounts Payable 57 Depreciation Expense 22 Unearned Fees 59 Miscellaneous Expense 23 Salaries Payable 24 Taxes Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Friday, July 31. Refer to the Chart of Accounts for exact wording of account titles. Round your answer to the nearest dollar. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 Adjusting Entries 2 3