Question 4 Monty Corp. is the new owner of Monty's Computer Services. At the end of July 2017.her first month of ownership. Monty is trying to prepare monthly financial statements. She has the following information for the month. 1. At July 31, Monty owed employees $ 3,260 in salaries that the company will pay in August. 2. On July 1, Monty borrowed $ 18,000 from a local bank on a 11-year note. The annual interest rate is 10%. 3. Service revenue unrecorded in July totaled $ 1,60o Prepare the adjusting entries needed at July 31,2017. (lf no entry is required. select "No Entry for account titles are automatically indented when the amount is entered. Do not indent manuolly) the account titles and enter O for the amounts Credit Debit Credit No. Account Titles and Explanation 1. 2. 3. e Textbook and Media 0