The following transactions occurred in August,2012 for Applegate Consulting:
$ August 1,2012 \quad $ Applegate loaned $ \$ 2,000 $ to an employee with a $ 9 \% $ interest rate. The loan stipulates that principal and interest be paid back on August 1, 2013 .
$ August 31,2012\quad $ Applegate Consulting performed $ \$ 3,200 $ worth of services for Midatlantic Corp.
The billing department at Applegate Consulting was unable to bill Midatlantic on August 31, 2012
because the company's computers were malfunctioning and awaiting service. What adjusting entries should Applegate Consulting make on August 31,2012?

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The Answer of The following transactions occurred in August,2012 for Applegate Consulting:
$ August 1,2012 \quad $ Applegate loaned $ \$ 2,000 $ to an employee with a $ 9 \% $ interest rate. The loan stipulates that principal and interest be paid back on August 1, 2013 .
$ August 31,2012\quad $ Applegate Consulting performed $ \$ 3,200 $ worth of services for Midatlantic Corp.
The billing department at Applegate Consulting was unable to bill Midatlantic on August 31, 2012
because the company's computers were malfunctioning and awaiting service. What adjusting entries should Applegate Consulting make on August 31,2012?

The Following Transactions Occurred in August,2012 for Applegate Consulting August1,2012 August 1,2012 \quad August1,2012

The Following Transactions Occurred in August,2012 for Applegate Consulting $August 1,2012 \quad$