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On August 1, 2022, the following were the account balances of Flounder Repair Services. Debit Credit Cash $5,070 Accumulated Depreciation-Equipment 500 Accounts Receivable 2,440 Accounts

On August 1, 2022, the following were the account balances of Flounder Repair Services. Debit Credit Cash $5,070 Accumulated Depreciation-Equipment 500 Accounts Receivable 2,440 Accounts Payable 1,930 Notes Receivable 3,400 Unearned Service Revenue 1,060 Supplies 870 Salaries and Wages Payable 1,190 Equipment 8,400 Common stock 10,100 Retained Earnings 5,400 20,180 20,180 Aug. 1 During August, the following summary transactions were completed. Paid $340 cash for advertising in local newspapers. Advertising flyers will be included with newspapers delivered during August and September. 3 Paid August rent $320. 5 Received $1,010 cash from customers in payment of account. 10 Paid $2,620 for salaries due employees, of which $1,430 is for August and $1,190 is for July salaries payable. 12 Received $2,350 cash for services performed in August. 15 Purchased store equipment on account $1,680. 20 Paid creditors $1,680 of accounts payable due. 22 Purchased supplies on account $670. 25 Paid $2,440 cash for employees' salaries. 27 Billed customers $3,160 for services performed. 29 Received $660 from customers for services to be performed in the future. Adjustment data: 1. A count shows supplies on hand of $810. 2. Accrued but unpaid employees' salaries are $1,290. 3. Depreciation on equipment for the month is $270. 4. Services were performed to satisfy $670 of unearned service revenue. 5. One month's worth of advertising services has been received. 6. One month of interest revenue related to the $3,400 note receivable has accrued. The 4-month note has a 6% annual interest rate. Flounder'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. Enter the August 1 balances in the ledger accounts. Cash 8/1 Bal. Accounts Receivable 8/1 Bal. Notes Receivable Supplies Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings

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