1. At August 31, Roddick owed his employees $1,900 in wages that will be paid on September 1.
2. At the end of the month he had not yet received the month's utility bill. Based on past experience, he estimated the bill would be approximately $600.
3. On August 1, Roddick borrowed $30,000 from a local bank on a 15-year mortgage. The annual interest rate is 8%.
4. A telephone bill in the amount of $117 covering August charges is unpaid at August 31.
Prepare the adjusting journal entries as of August 31, 2007, suggested by the information above.
All of the charges occurred in 2007
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