17 rows and the last row is credit

Question 3 of 3 1 At June 30, 2021, the end of its most recent fiscal year, River Consultants Ltd's post-closing trial balance was as follows: Credit Debit $13,700 1.100 600 Cash Accounts receivable Supplies Accounts payable Income tax payable Deferred revenue Commons ares Retained earnings $500 400 1,000 3,500 10,000 $15,400 $15.400 4 5 6 6 12 The company underwent a major expansion in July. New staff was hired and more financing was obtained. River conducted the following transactions during July 2021 July 3 Issued $10,400 of common shares for cash. Purchased insurance coverage for a year, 3,960. Paid the first two (July and August 2021) months' rent for an annual lease of office space for $3,700 per month. (Hint: Use the Prepaid Rent account.) Purchased $4,000 of supplies for cash. Purchased equipment, paying $4,000 cash and signing a two-year bank loan for $20,000. The equipment has a four-year useful life. The bank loan has a 6% Interest rate, which is payable on the first day of each following month 10 Visited client offices and agreed on the terms of a consulting project. River will invoice the client. Connor Productions Ltd. on the 19th of each month for work performed. Collected $1,100 on account from Milani Brothers Ltd. This client was invoiced in June when the service was provided 13 Completed services for Mactaquac Inc. This client paid $1,000 in advance last month. All services relating to this payment are now completed. (Hint: Use the Fees Earned account.) Pald salaries for the first half of the month, $11,400 Pald a utility bill of $500. This related to June utilities that were accrued at the end of June. 18 Met with a new client, Bay Technologies. Received $10.900 cash in advance for future work to be performed 19 Invoiced Connor Productions for $28.600 of consulting fees provided on account. (Hint: Use the Fees Earned account.) 20 Received an invoice for legal advice, $2,500. The amount is not due until August 20. (Hint: Use the Professional Fees Expense account.) 23 Completed the first phase of the project for Bay Technologies Ltd. Recognized $10,800 of revenue from the cash advance previously received (see July 18 transaction). 25 Paid $400 income tax payable owing at the end of June, In addition to $1,400 for the July income tax Instalment Received $15.500 cash from Connor Productions in partial payment of the invoice issued on July 19. Declared and paid a $4.800 dividend 16 17 27 30 Question 3 of 3 Date Account Titles and Explanation Debit . Prepare T accounts, enter any opening balances, post the journal entries and calculate and enter balances.(Post entries in the order of journal entries presented above. If the ending balance is o select Bol for the date and enter o for the normal balance for that account.) Cash Accounts Receivable Prepaid Insurance Supplies Prepaid Rent Prepaid Rent Equipment . Accounts Payable . Income Tax Payable : Deferred Revenue Bank Loan Payable Common Shares Retained Earnings bidden Dividends Declared Fees Earned Salaries Expense Professional Fees Expense Income Tax Experte