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On August 1, 2022, the following were the account balances of Swifty Repair Services. Debit Credit Cash $7,130 Accumulated Depreciation-Equipment 710 Accounts Receivable 3,430 Accounts Payable 2,710 Notes Receivable 4,800 Unearned Service Revenue 1,490 Supplies 1,220 Salaries and Wages Payable 1,680 Equipment 11,800 Common stock 14,200 Retained Earnings 7,590 28,380 28,380 During August, the following summary transactions were completed. Aug 1 3 5 5 10 12 Paid $470 cash for advertising in local newspapers. Advertising flyers will be included with newspapers delivered during August and September. Paid August rent $450. Received $1,420 cash from customers in payment of account Paid $3,680 for salaries due employees, of which $2.000 is for August and $1,680 is for July salaries payable. Received $3,300 cash for services performed in August Purchased store equipment on account $2,360. Paid creditors $2,360 of accounts payable due, Purchased supplies on account $940. Paid $3,420 cash for employees' salaries. Billed customers $4,440 for services performed. 15 20 22 25 27 29 Received $920 from customers for services to be performed in the future. i UM Adjustment data: 1. A count shows supplies on hand of $1.130. 2. Accrued but unpaid employees' salaries are $1,820. 3. 4. 4. 5. . Depreciation on equipment for the month is $380. Services were performed to satisfy $940 of unearned service revenue. One month's worth of advertising services has been received. One month of interest revenue related to the $4,800 note receivable has accrued. The 4-month note has a 6% annual interest rate. 6. Swifty's chart of accounts includes Prepaid Advertising. Interest Receivable, Service Revenue, Interest Revenue, Advertising Expense, Depreciation Expense, Supplies Expense, Salaries and Wages Expense, and Rent Expense. Question 1 of 4 Enter the August 1 balances in the ledger accounts. Cash 8/1 Bal. $ 7130 Accounts Receivable 8/1 Bal. $ 3430 Notes Receivable 8/1 Bal. $ 4800 Supplies > 8/1 Bal. $ 1220 Equipment 8/1 Bal. $ 11800 Accumulated Depreciation-Equipment 8/1 Bal. $710 Accounts Payable 8/1 Bal. $ 2710 Unearned Service Revenue 8/1 Bal. $ 1490 Salaries and Wages Payable 8/1 Bal. $ 1680 Common Stock 8/1 Bal $ 14200 Question 1 of 4 8/1 Bal. $ 1680 Common Stock 8/1 Bal. $ 14200 Retained Earnings 8/1 Bal. $7590 e Textbook and Media List of Accounts Using multiple attempts will impact your score. 5% score reduction after attempt 2 Your answer is correct. Journalize the August transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Aug 1 . Prepaid Advertising $470 Cash $470 Aug 3 Rent Expense 5450 Cash 5454 Aug 5 Cash $1420 Accounts Receivable $1424 Aug 10 Salaries and Wages Expense $2000 Aug. 10 Salaries and Wages Expense $2000 Salaries and Wages Payable $1680 Cash $3680 Aug. 12 Cash 53300 Service Revenue $330 Aug. 15 Equipment $2360 Accounts Payable $236 Aug. 20 Accounts Payable $2360 Cash $236 Aug. 224 Supplies $940 Accounts Payable $946 Cash $236 Aug. 22 Supplies $9.00 Accounts Payable $946 Aug. 25 : Salaries and Wages Expense 53420 Cash 53424 Aug. 27 Accounts Receivable $4440 Service Revenue $440 Aug. 29 Cash S920 Unearned Service Revente 5920 (c) c Post to the ledger accounts. Cash 8/1 Bal. 7,130 + Question OT 4 Accounts Receivable 8/1 Bal. 3,430 Notes Receivable 8/1 Bal. 4,800 8/31 Bal. 4,800 Supplies 8/1 Bal. 1,220 Question 1 of 4 Prepaid Advertising Equipment 8/1 Bal. 11,800 Accumulated Depreciation Equipment 8/1 Bal. 710 Accounts Payable 8/1 Bal. 2,710 Accounts Payable 8/1 Bal. 2,710 Unearned Service Revenue 8/1 Bal. 1,490 Salaries and Wages Payable Question 1 of 4 Salaries and Wages Payable 4 8/1 Bal. 1,680 Common Stock 8/1 Bal. 14,200 8/31 Bal. 14,200 Retained Earnings 8/1 Bal. 7.590 Service Revenue C Salaries and Wages Expense Rent Expense
