ounting (Summer 2022) sec. 02 Prepare the adjusting entries for the following transactions that are related to the month of july Omit explanations. 1. Depreciation on equipment is $1,200 for the accounting period 2. There was no beginning balance of supplies and purchased $1,200 of supplies during the period. At the end of the period, $300 of supplies were on hand. 3. Prepaid rent had a $2,400 normal balance prior to adjustment. By year-end $800 was unexpired. 4. At July 31, the company owed its employees $800 in salaries and wages that will be paid on August 1 2. On July 1, the company borrowed $30,000 from a local bank on a 15-year mortgage. The annual interest race 10% Answer A BI anch Dil " 3 E 7 4 R $ 35 5 19 96 24 ^ Prtson Home End " 6 7 V 8 A 9 TN Y ! 4 2 o DI F ] GJ J L C I V } H BVNT a x N K L