Skysong, Inc. is the new owner of Skysong's Computer Services. At the end of July 2017, her first month of ownership, Skysong is trying to prepare monthly financial statements. She has the Following information for the month At July 31, Skysong owed employees $3,380 in salaries that the company will pay in August 2. On July 1, Skysong borrowed $22,500 from a local bank on a 11-year note. The annual interest rate is 8% 3. Service revenue unrecorded in July totaled $1,600 Prepare the adjusting entries needed at July 31, 2017. (If no entry is required, select "No Entry for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. 2