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On August 1, 2022, the following were the account balances of Novak Repair Services. Debit Credit Cash $5,500 $ 700 2.830 2.400 4.000 1,160 Accounts Receivable Notes Receivable Supplies Equipment Accumulated Depreciation - Equipment Accounts Payable Unearned Service Revenue Salaries and Wages Payable Common stock Retained Earnings 1.030 1,270 9.000 13.000 3,830 $22,360 $ 22,360 During August, the following summary transactions were completed. Aug 1 3 Paid $ 400 cash for advertising in local newspapers. Advertising flyers will be included with newspapers delivered during August and September. Paid August rent $ 400 Received $ 1,100 cash from customers in payment on account Paid $ 2,970 for salaries due employees, which $ 1.700 is for August and $ 1.270 is for July salaries payable. Received $ 2,600 cash for services performed in August. 5 10 12 Question 2 of 5 -/35 During August, the following summary transactions were completed. Aug 1 3 5 10 12 Paid $ 400 cash for advertising in local newspapers. Advertising flyers will be included with newspapers delivered during August and September Paid August rent $ 400 Received $ 1,100 cash from customers in payment on account Paid $ 2.970 for salaries due employees, of which $1,700 is for August and $ 1.270 is for July salaries payable. Received $ 2,600 cash for services performed in August Purchased store equipment on account $ 1.900. Paid creditors $ 2,200 of accounts payable due Purchased supplies on account $ 700. Paid $ 3,100 cash for employees salaries. Billed customers $3,800 for services performed. Received $ 740 from customers for services to be performed in the future. 15 20 22 25 27 29 Novak'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. + Chapter 4 Homework - /35 E Question 2 of 5

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