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The ledger of Whispering Winds Lake Lumber Supply on July 31, 2025, includes the selected accounts below before adjusting entries have been prepared. Notes
The ledger of Whispering Winds Lake Lumber Supply on July 31, 2025, includes the selected accounts below before adjusting entries have been prepared. Notes Receivable Supplies Prepaid Rent Buildings Accumulated Depreciation-Buildings Unearned Service Revenue Debit Credit $24,000 23,000 3,400 260,000 $130,000 10,600 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 $15,000. The balance in Prepaid Rent represents 4 months of rent costs. 3. 4. Employees were owed $3,100 related to unpaid salaries and wages.
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