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The ledger of Sunland Company on July 31, 2022, includes the selected accounts below before adjusting entries have been prepaAccount Titles and Explanation No. Date Debit Credit 1. July 31 2. July 31 July 31 3. 4. July 31 July 31 6. July 31 5.July 31

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Answer #1

Adjusting Entries:

Date Account title and Explanation Debit Credit
1 July 31 Interest receivable $110
Interest revenue [22,000 x 6% x (1/12)] $110
[To record accrued interest revenue]
2 July 31 Supplies expense [21,000-16,600] $4,400
Supplies $4,400
[To record supplies expense]
3 July 31 Rent expense [2,800 x 1/4] $700
Prepaid rent $700
[To record rent expense]
4 July 31 Salaries and wages expense $3,100
Salaries and wages payable $3,100
[To record accrued salaries and wages]
5 July 31 Depreciation expense-buildings [4,320 x 1/12] $360
Accumulated depreciation-buildings $360
[To record depreciation expense]
6 July 31 Unearned service revenue $4,750
Service revenue $4,750
[To record revenue from unearned]
7 July 31 Maintenance and repairs expense $2,200
Accounts payable $2,200
[To record accrued maintenance and repairs expense]

Explanations:

Given that, Adjusting entries prepared monthly.

So that, Interest revenue, Rent expense and Depreciation expense calculated for a month.

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