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On August 1,2025 , the following were the account balances of Culver Repair Services. Aug. 1 Paid $450 cash for advertising in local newspapers. Advertising
On August 1,2025 , the following were the account balances of Culver Repair Services. Aug. 1 Paid $450 cash for advertising in local newspapers. Advertising flyers will be included with newspapers delivered during August and September. 3 Paid August rent $430. 5 Received $1,340 cash from customers in payment of account. 10 Paid $3,490 for salaries due employees, of which $1,900 is for August and $1,590 is for July salaries payable. 12 Received $3,140 cash for services performed in August. 15 Purchased store equipment on account $2,240. 20. Paid creditors $2,240 of accounts payable due. 22 Purchased supplies on account $900. 25 Paid $3,250 cash for employees' salaries. 27 Billed customers $4,210 for services performed. 29 Received $870 from customers for services to be performed in the future. Adjustment data: 1. A count shows supplies on hand of $1,080. 2. Accrued but unpaid employees' salaries are $1,720. 3. Depreciation on equipment for the month is $360. 4. Services were performed to satisfy $900 of unearned service revenue. 5. One month's worth of advertising services has been received. 6. One month of interest revenue related to the $4,400 note receivable has accrued. The 4 -month note has a 6% annual interest rate. Culver'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. Journalize and post adjusting entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
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