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The ledger of Novak Corp.on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared. Credit Investment in Note Receivable Supplies
The ledger of Novak Corp.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 $12,000 22.000 4.400 210,000 $150,000 11,300 An analysis of the company's accounts shows the following 1. The investment in the notes receivable earns interest at a rate of 6% per year, 2. Supplies on hand at the end of the month totaled $15,800, 3. The balance in Prepaid Rent represents 4 months of rent costs. Employees were owed $3,200 related to unpaid salaries and wages. 5. Depreciation on buildings is $5,400 per year. 6. During the month, the company satished obligations worth $4,650 related to the Unearned Services Revenue. 7. Unpaid maintenance and repairs costs were $2,300 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 is entered. Do not indent manually.) No. Debit Credit Date Account Titles and Explanation July 1 31 2 July 31 3 July 31 4. July 31 5. July 31 2 3. Ain 4. 5 July TE July 6. TE 7 TE
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