On August 1, 2022, the following were the account balances of Concord Repair Services. Cash Accounts Receivable Notes Receivable Supplies Equipment Debit $6,640 3,200 4,400 1,130 11,000 Accumulated Depreciation Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common stock Retained Earnings Credit 660 2,530 1.390 1,560 13,200 7,030 26.370 26,370 During August, the following summary transactions were completed. Aug. 1 3 5 10 12 15 20 22 25 27 29 Paid $440 cash for advertising in local newspapers. Advertising flyers will be included with newspapers delivered during August and September. Paid August rent $420. Received $1,320 cash from customers in payment of account. Paid $3,430 for salaries due employees, of which $1,870 is for August and $1,560 is for July salaries payable. Received $3,080 cash for services performed in August. Purchased store equipment on account $2,200. Paid creditors $2,200 of accounts payable due. Purchased supplies on account $880. Paid $3,190 cash for employees' salaries. Billed customers $4,140 for services performed. Received $860 from customers for services to be performed in the future. Adjustment data: 1. 2. 3. 4. 5. A count shows supplies on hand of $1,060. Accrued but unpaid employees' salaries are $1,690. Depreciation on equipment for the month is $350. Services were performed to satisfy $880 of unearned service revenue. One month's worth of advertising services has been received. One month of interest revenue related to the $4,400 note receivable has accrued. The 4-month note has a 6% annual interest rate. 6. Concord's chart of accounts includes Prepaid Advertising, Interest Receivable, Service Revenue, Interest Revenue, Advertising Expense, Depreciation Expense, Supplies Expense, Salaries and Wages Expense, and Rent Expense. (a) Your answer is correct. Enter the August 1 balances in the ledger accounts. Cash 8/1 Bal. 6640 Accounts Receivable 8/1 Bal. 3200 Notes Receivable 8/1 Bal. 4400 Supplies 8/1 Bal. 1130 Equipment 8/1 Bal. 11000 Accumulated Depreciation-Equipment 8/1 Bal. 660 Accounts Payable 8/1 Bal. 2530 Unearned Service Revenue 8/1 Bal. 1390 Salaries and Wages Payable 8/1 Bal. 1560 Your Answer Correct Answer Your answer is correct. Journalize the August transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry"for the account titles and enter o for the amounts.) Date Debit Credit Account Titles and Explanation Prepaid Advertising g. 1 440 Cash 440 8.3 Rent Expense 420 Cash 420 g. 5 Cash 1,320 Accounts Receivable 1,320 g. 10 Salaries and Wages Payable 1560 Salaries and Wages Expense 1870 Cash 3430 g. 12 Cash 3080 Service Revenue 3080 g. 15 Equipment 2200 Accounts Payable 2200 g. 20 2200 Accounts Payable Cash 2200 8-22 Supplies 880 Accounts Payable 880 g. 25 Salaries and Wages Expense 3190 Cash 3190 g. 27 Accounts Receivable 4140 Service Revenue 4140 g. 29 Cash 860 Unearned Service Revenue 860 e Textbook and Media List of Accounts Attempts: 3 of 3 used (c) Post to the ledger accounts. Cash 8/1 Bal. 6,640 Accounts Receivable 8/1 Bal. 3.200 Notes Receivable 8/1 Bal 8/31 Bal. 4,400 4,400 Supplies 8/1 Bal. 1,130 Prepaid Advertising Equipment 8/1 Bal. 11,000 Accumulated Depreciation Equipment 8/1 Bal. 660 Accounts Payable 8/1 Bal. 2,530 Accounts Payable 8/1 Bal. 2,530 Unearned Service Revenue 8/1 Bal. 1.390 Salaries and Wages Payable 8/1 Bal. 1,560 Common Stock 13,200 8/1 Bal. 8/31 Bal. 13,200 Retained Earnings 8/1 Bal. 7,030 Service Revenue Salaries and Wages Expense Rent Expense e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer (d) The parts of this question must be completed in order. This part will be available when you complete the part above