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The ledger of Sunland Company on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared. Investment in Note Receivable Supplies
The ledger of Sunland Company on July 31, 2022, includes the selected accounts below before adjusting entries have been prepared. Investment in Note Receivable Supplies Prepaid Rent Buildings Accumulated Depreciation-Buildings Unaarned Service Revenue 51 2 3 5. An analysis of the company's accounts shows the following 6 7. 1 2 3. No. Date Account Titles and Explanation July 31 4 5. 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 O for the amounts Credit ccccuunt titles are automatically indented when the amount is entered. Do not indent manually. 7. July 31 July 31 Debit $22,000 21,000 July 31 2,800 The investment in the notes receivable carns interest at a rate of 6% per year. Supplies on hand at the end of the month totaled $16,600 The balance in Prepaid Rent represents 4 months of rant costs. Employees were owad $3,100 related to unpaid salaries and wages. Depreciation on buildings is $4,220 per year. During the month, the company satiched obligations worth $4,750 related to the Unearned Services Revenue. Unpaid maintenance and repairs costs wers $2,200 July 31 290,000 July 31 July 31 Credit $150,000 10,500 Debit Credit
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