Question

The ledger of Cheyenne Corp. on July 31, 2022, includes the following selected accounts before adjusting entries have been prepared.

		Debit		Credit
Supplies		$ 27,360
Prepaid Rent		4,104
Buildings		285,000
Accumulated Depreciation—Buildings				$159,600
Unearned Service Revenue				13,110

An analysis of the company’s accounts shows the following.

1.		Supplies on hand at the end of the month totaled $21,204.
2.		The balance in Prepaid Rent represents 4 months of rent costs.
3.		Employees were owed $3,534 related to unpaid and unrecorded salaries and wages.
4.		Depreciation on buildings is $6,840 per year.
5.		During the month, the company satisfied obligations worth $5,358 related to the Unearned Services Revenue.
6.		Unpaid and unrecorded maintenance and repairs costs were $2,622.

For the fourth entry for July 31, the account titles are as follows: What do I enter where the ?? are? (I know they aren't 6840) I'd really appreciate an immediate response. Thank You

Depreciation Expense	??Debit
Accumulated depreciation-Buildings	??Credit

Answer 1

The answer is as follows

Accounts balances are as follows:

Particulars. Debit. Credit

Supplies. $21204

Buildings. $285000

Accumulated depreciation. $166440

Unearned service revenue. $7752