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Question 2 of 2 - /20 View Policies Current Attempt in Progress The Coronado Corporation had the following opening trial balance at the beginning of its fiscal year, July 1, 2021: Debit Credit $ 4,900 7,120 1,080 15,600 Cash Accounts receivable Supplies Equipment Accumulated depreciation equipment Deferred revenue Common shares Retained earnings Totals $ 6,120 2,380 5,400 14,800 $ 28,700 $ 28,700 During the month of July, the following selected transactions took place: July 2 7 14 Paid $1,480 for two months' rent in advance for July and August. Purchased $200 of supplies on account. Collected half of outstanding accounts receivable. Borrowed $1,100 from the bank for one year at an interest rate of 5%. Received $1,080 cash from a customer for services to be performed in August. Performed $1,630 of services to a customer on account. 15 21 28 JUU services lud Customer on account. Additional information: 1. 2. 3. 4. At July 31, the company had performed $840 of services for a client that it had not billed or recorded. Recorded rent expense for the month. Supplies on hand at July 31 were $470. The equipment has a five-year useful life and uses straight-line depreciation. Interest is due on the bank loan on the first day of each following month, beginning August 1. As at July 31, the company owed $2,510 of salaries to its employees for the month just ended. As at July 31, the company had earned $2,170 of revenue that had been paid in advance. 5. 6. 7. (a) Record the July transactions. (Record journal entries in the order presented in the problem. List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) MacBook Air 80 DOD DOO DD

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