On August 1, 2021, the beginning of its current fiscal year, the following opening account balances, listed in alphabetical order, were reported by Lily Ltd. During August, the following summary transactions were completed. Paid $380 cash for advertising in local newspapers. Advertising flyers will be included with newspapers delivered Aug, 1 during August and September. (Hint: Use the Prepaid Advertising account.) 3 Paid August rent $400. (Hint: Use the Prepaid Rent account.) 6 Received $3,510 cash from customers in payment of accounts. 10 Paid $3,340 for salaries due employees, of which $1,980 is for August and $1,360 is for July salaries payable. 13 Received $3,780 cash for services performed in August. 15 Purchased additional equipment on account $1,850. 17 Paid creditors $1,850 of accounts payable due. 22 Purchased supplies on account $730. 24 Paid salaries $2,900. 27 Performed services worth $4,330 on account and billed customers. 29 Received $720 from customers for services to be provided in the future. 31 Declared and paid a $490 dividend. Post the August adjusting journal entries and calculate and enter end balances. (Post entries in the order of journal entries presented in the previous part. If the ending balance is 0 select Bal for the date and enter 0 for the normal balance for that account.) Prepaid Advertising Aug. 1 Supplies Aug. 1Bal. Aug. 22 Prepaid Rent Aug. 3 400 Note Receivable Aug. 1 Bal. 4,000 Question 1 of 1 Note Receivable \begin{tabular}{lr|r|r} \hline Aug. 1 Bal. & 4,000 & \\ \hline Aug. 31 Bal. & 4,000 & \\ \hline Aug. 1 Bal. & 20 & \\ \hline & v & v & \\ \hline \end{tabular} Accumulated Depreciation - Equipment Aug. 1 Bal. 2,040 Accounts Payable Aug. 17 \begin{tabular}{|l|lr} 1,850 & Aug. 1 Bal. & 2,080 \\ & Aug. 15 & 1,850 \\ & Aug. 22 & 730 \\ \hline & Aug. 31 Bal. & 2,810 \end{tabular} Salaries Payable Aug. 10 1,360 Aug. 1 Bal. 1,360 Income Tax Payable Deferred Revenue Aug. 1 Bal. 1,240 Aug. 29 720 Common Shares Dividend Declared Dividend Declared Aug. 31 Aug. 31 Bal. Service Revenue Aug. 13 3,780 Aug. 27 4,330 Interest Income Salaries Expense Salaries Expense Aug. 10 Aug. 24 Rent Expense Supplies Expense Depreciation Expense Income Tax Expense Advertising Expense Lily records adjustments monthly. Adjustment data for the month of August are as follows: 1. One month's worth of advertising services have been received. 2. The August rent has expired. 3. Accrued salaries payable are $1,390. 4. Depreciation for the month is $204. 5. Supplies on hand at August 31 are $980. 6. Services were performed to satisfy $860 of Deferred revenue. 7. One month of interest income related to the $4,000 note receivable has accrued. The note was issued on June 30 and is due October 31 and has a 6% annual interest rate. Interest is due at maturity. 8. Income tax of $300 is estimated to be owed for the month of August