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The ledger of Armour Lake Lumber Supply on July 31 2022, includes the selected accounts below before adjusting entries have been prepared Credit Investment in
The ledger of Armour Lake Lumber Supply on July 31 2022, includes the selected accounts below before adjusting entries have been prepared Credit Investment in Note Receivable Supplies Prepaid Rent Buildings Accumulated Depreciation-Buildings Unearned Service Revenue Debit $20,000 24,000 3,600 250,000 $140,000 11,500 1 2. An analysis of the company's accounts shows the following The investment in the notes receivable earns interest at a rate of 6% per year. Supplies on hand at the end of the month totaled $18.600. 3. The balance in Prepaid Rent represents 4 months of rent costs. Employees were owed $3,100 related to unpaid salaries and wages Depreciation on buildings is $6,000 per year. During the month the company satisfied obligations worth $4,700 related to the Unearned Services Revenue 7. Unpaid maintenance and repairs costs were $2,300. 4 5. 6. Prepare the adjusting entries at July 31 assuming that adjusting entries are made monthly. If no entry is required, select "No Entry for the account titles and enter for the amounts Credit account titles are automatically indented when the amount 's entered. Do not indent manually) No. Date Account Titles and Explanation Debit Credit July 31 Jul 31 Prepare the adjusting entries at July 31 assuming that adjusting entries are made monthly. Of no entry is required, select "No Entry for the account titles and enter for the amounts Credit account titles are automatically indented when the amount is entered. Do not indent manually Debit Credit No. Date Account Titles and Explanation 1 July 31 2 July 31 3 July 31 4 July 31 5. July 31 July 31 7. July 31
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