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Stanleys is a coffee shop. On November 31st it had the following account balances: Service Revenue, $38,000 Unearned Revenue, $3,600 Interest Income $1,100 Prepaid insurance,

Stanleys is a coffee shop. On November 31st it had the following account balances:

Service Revenue, $38,000

Unearned Revenue, $3,600

Interest Income $1,100

Prepaid insurance, $2,400 (6 month semi-annual policy)

Note Payable, $7,500 at 8.7% (due February 15th)

Supplies, $1,200

Supplies Expense, $100

Salary Expense, $18,000

Interest Expense $120 Additional information at November 31st included:

Insurance policy was purchased October 1st.

Supplies on hand, $450

Money was borrowed on the note payable on August 30th

Unearned service revenue relate to unshipped products. $2,160 of products had not been shipped by year end.

The company pays $2,100 in salaries every two weeks. The year ended with 5 unpaid work days.

Other accrued expenses at year end were $457

Prepare adjusting journal entries for the above information.

How much revenue did Stanleys earn?

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