Chris and Shauna are kind of quirky with numbers. They love…

Chris and Shauna are kind of quirky with numbers. They love all forms of the number seven. They want to buy a 1977 vintage Corvette for $77,777.77. If they pay 7.7% down and finance the rest over 77 months at 7.7% annual interest, what would be their monthly payment (at the end of each month)? 

Town Laundry Ltd. purchased $5,500 worth of laundry supplies…

Town Laundry Ltd. purchased $5,500 worth of laundry supplies on June 2 and recorded the purchase as an asset in the Supplies account. On June 30, a count of the laundry supplies indicated only $3,000 on hand. The adjusting entry that should be made by the company on June 30 is