View Help Open in Desktop App Tell me what you want to do A BI U ov Av A vvv Lowe Company has total monthly revenues of $325,000 and expenses of $198,000 for the month ended July 31 before monthly adjusting entries are made. The following data are provided on the end of month adjustments to be made: a. Insurance expired in July, $2,520.b. Unbilled amounts to customers for July is $4,200.c. Salaries earned by employees but not yet paid by Lowe for the last week of July, $13,125.d. Depreciation on equipment for July, $1,290.e. Supplies used in July, $1,650.f. Fees collected in advance from customers which have now been earned during July $23,400. Complete the schedule below to determine the profit of Lowe for July after these adjustments are recorded. Begin your schedule with income before adjusting entries and then show the effect of each adjustment to arrive at profit after adjustment $ Profit before adjusting entries Adjustments Profit after adjustments is Profit before adjustments Adjustments Q1. (25 marks) Campbell began an engineering design company and during the month of October completed these transactions:(a) Began business by investing cash, $11.000, and computer equipment with a fair value of $3,000. (b) Paid rent for one year in advance, $3,000.(c) Completed a beam design and billed the client for $3.000 (d) Paid the wtilities bill for the month $100.(e) Wrote a $1,000 cheque on the business bank account for personal expenses. Prepare journal entries to record the above transactions. Include a brief description for each entry