Business, 07.03.2020 04:07, nakeakohler13

Present all the journal entries including the adjustments that would be made on July 31, 2015, the end of the fiscal year, for each of the following. 1. The supplies inventory on August 1, 2014 was $9,350. Supplies costing $22,150 were acquired in cash on September 11, 2014 and charged to the supplies inventory. A count on July 31, 2015 indicated supplies on hand of $8,810. There was no other transaction related to supplies during the fiscal year ending July 31, 2015. 2. On April 30, a ten-month, 6% note for $30,000 was received from a customer for lending the same amount to the customer. 3. On May 1, $12,000 was collected as rent for one year and the same amount was credited as Unearned Rent Revenue.

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Present all the journal entries including the adjustments that would be made on July 31, 2015, the e...