During the month of July, the following selected transactions took place: July 2 Paid $1,620 for two months' rent in advance for July and August. 7 Purchased $200 of supplies on account. 14 Collected half of outstanding accounts receivable. 15 Borrowed $1,200 from the bank for one year at an interest rate of 4%, 21 Received $960 cash from a customer for services to be performed in August. 28 Performed $1,610 of services for a customer on account. Additional information: 1. At July 31 , the company had performed $740 of services for a client that it had not billed or recorded. 2. Recorded rent expense for the month. 3. Supplies on hand at July 31 were $480. 4. The equipment has a five-year useful life and Oriole uses straight-line depreciation. The Oriole Corporation had the following opening trial balance at the beginning of its fiscal year, July 1, 2024: 1. At July 31, the company had performed $740 of services for a client that it had not billed or recorded. 2. Recorded rent expense for the month. 3. Supplies on hand at fuly 31 were $480. 4. The equipment has a five-year uscful tife and Oriole uses straight-line depreciation. 5. Interest is due on the bank loan on the forst day of each following month, beginning August 1. 6. As at July 32 , the company owed $2.540 of salaries to its employees for the monthjust ended. 7. As at July 31 , the compary had earned $1,840 of revenue that had toen received in advance. (a) Record the July transactiom. (Credit occount titles are outomatically indented when amount is entered. Do not indent manually. List debit entry before credit entry. If no entry is required, select "No Entry' for the account titles and enter O for the amounts, Record joumol entries in the order presented in the problem.).

1. During the month of July, the following selected transactions took place: July 2 Paid $1,620 for
two months' rent in advance for July and August. 7 Purchased $200 of supplies on account. 14
Collected half of outstanding accounts receivable. 15 Borrowed $1,200 from the bank for one
year at an interest rate of 4%, 21 Received $960 cash from a customer for services to be
performed in August. 28 Performed $1,610 of services for a customer on account. Additional
information: 1. At July 31 , the company had performed $740 of services for a client that it had
not billed or recorded. 2. Recorded rent expense for the month. 3. Supplies on hand at July 31
were $480. 4. The equipment has a five-year useful life and Oriole uses straight-line
depreciation.
The Oriole Corporation had the following opening trial balance at the beginning of its fiscal year,
July 1, 2024:
1. At July 31, the company had performed $740 of services for a client that it had not billed or
recorded. 2. Recorded rent expense for the month. 3. Supplies on hand at fuly 31 were $480. 4.
The equipment has a five-year uscful tife and Oriole uses straight-line depreciation. 5. Interest is
due on the bank loan on the forst day of each following month, beginning August 1. 6. As at July
32 , the company owed $2.540 of salaries to its employees for the monthjust ended. 7. As at July
31 , the compary had earned $1,840 of revenue that had toen received in advance. (a) Record the
July transactiom. (Credit occount titles are outomatically indented when amount is entered. Do
not indent manually. List debit entry before credit entry. If no entry is required, select "No Entry'
for the account titles and enter O for the amounts, Record joumol entries in the order presented in
the problem.)