prepare adjusting journal entries. thank yoy

Credits Unadjusted Trial Balance DRESS RIGHT CLOTHING CORPORATION Unadjusted Trial Balance July 31, 2016 Account Title Debits Cash 68,500 Accounts receivable 2,000 Supplies 2,000 Prepaid rent 24,000 Inventory 38,000 Furniture and fixtures 12,000 Accounts payable 35,000 Notes payable 40,000 Deferred rent revenue 1,000 Common stock 60,000 Retained earnings 1,000 Sales revenue 38.500 Cost of goods sold 22.000 Salaries expense 5.000 Totals 174,500 174,500 DEBIT July 31 CREDIT The unadjusted trial balance of the Dress Right Clothing Corporation lists supplies of $2,000 that were purchased in July. Minions report that at the end of July, $1,200 of supplies remain. Journal Entry Debit Credit DEBIT CREDIT July 31 At the beginning of July, Dress Right Clothing Corporation paid $24,000 to its landlord representing one year's rent paid in advance. Journal Entry Debit Credit DERIT CREDIT furniture and fixtures of $12,000 were purchased durive the th of July by Dress Right Clothing Corporation. Assume that the ure and fixtures have a useful life of five years (60 month will be worthless at the end of that period Journal Entry Debit Credit DEBIT July 31 Dress Right Clothing Corporation subleased a portion of its building to a jewelry store for $500 per month. On July 16, the jewelry store paid Dress Right $1,000 in advance for the first two months' rent. Journal Entry Debit Credit July 31 On July 20, Dress Right Clothing Corporation paid employees $5,000 for salaries for the first half of the month. Assume that salaries for the second half of July are $5,500. Journal Entry Debit Credit DEBIT CREDIT July 31 The unadjusted trial balan usted trial balance of Dress Right Clothing Corporation erts a balance in the notes payable account of $40,000. The mpany borrowed this amount on July 1, 2016, evidenced by two notes, each requiring the payment of 10% interest. Journal Entry Debit Credit DEBIT CREDIT Hypothetical - August 31 Assume that Dress Right loaned another corporation $30,000 at the beginning of August, evidenced by a note receivable. Terms of the note call for the payment of principal, $30,000, and interest at 8% in three months Journal Entry Debit Credit