Adjusting entries.
a) Present, in journal form, the adjustments that would be made on July 31, 2013, the end of the fiscal year, for each of the following.
1. The supplies inventory on August 1, 2012 was $7,350. Supplies costing $22,150 were acquired during the year and charged to the supplies inventory. A count on July 31, 2013 indicated supplies on hand of $8,810.
2. On April 30, a ten-month, 6% note for $20,000 was received from a customer.
3. On March 1, $12,000 was collected as rent for one year and a nominal account was credited.

Mr. beautiful, an organization that sells weight training sets, has an ordering cost of $40 for the bb-1 set. (bb-1 stands for body beautiful number 1.) the carrying cost for bb-1 is $5 per set per year. to meet demand, mr. beautiful orders large quantities of bb-1 seven times a year. the stockout cost for bb-1 is estimated to be $50 per set. over the past several years, mr. beautiful has observed the following demand during the lead time for bb-1: demand during lead time probability40 0.150 0.260 0.270 0.280 0.290 0.1total 1.0the reorder point for bb-1 is 60 sets. what level of safety stock should be maintained for bb-1?