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The ledger of Blossom Company on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared. Credit Investment in Note Receivable
The ledger of Blossom Company 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 2,600 300,000 $130,000 11,600 An analysis of the company's accounts shows the following. 1. 2. 3. 4. The investment in the notes receivable earns interest at a rate of 12% per year. Supplies on hand at the end of the month totaled $15,400. The balance in Prepaid Rent represents 4 months of rent costs. Employees were owed $2,900 related to unpaid salaries and wages. Depreciation on buildings is $4.440 per year. During the month, the company satisfied obligations worth $4,800 related to the Unearned Services Revenue. Unpaid maintenance and repairs costs were $2,150. 5. 6. 7. The ledger of Blossom Company 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 2,600 300,000 $130,000 11,600 An analysis of the company's accounts shows the following. 1. 2. 3. 4. The investment in the notes receivable earns interest at a rate of 12% per year. Supplies on hand at the end of the month totaled $15,400. The balance in Prepaid Rent represents 4 months of rent costs. Employees were owed $2,900 related to unpaid salaries and wages. Depreciation on buildings is $4.440 per year. During the month, the company satisfied obligations worth $4,800 related to the Unearned Services Revenue. Unpaid maintenance and repairs costs were $2,150. 5. 6. 7
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