Larkspur, Inc. began operations in July 2022. At the end of the month, the company prepares monthly financial statements. It has the following information for the month. 1. At July 31 , the company owed employees $1,222 in salaries that the company will pay in August. 2. On July 1 , the company borrowed $18,800 from a local bank on a 10 -year note. The annual interest rate is 12%. Interest is paid annually. 3. Service revenue unrecorded in July totaled \$2,256. Prepare the adjusting entries needed at July 31,2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)