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The ledger of Monty Corp. on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared. Debit Credit Investment in

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The ledger of Monty Corp. on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared. Debit Credit Investment in Note Receivable $16,000 Supplies 22,500 Prepaid Rent 6,000 Buildings 240,000 Accumulated Depreciation-Buildings $130,000 Unearned Service Revenue 10,800 An analysis of the company's accounts shows the following 1 The investment in the notes receivable earns interest at a rate of 12% per year. 2 Supplies on hand at the end of the month totaled $15,000. 3. 4. 5 Depreciation on buildings is $4,200 per year. 6 The balance in Prepaid Rent represents 4 months of rent costs. Employees were owed $3.500 related to unpaid salaries and wages. During the month, the company satisfied obligations worth $4,700 related to the Unearned Services Revenue

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