4-91 Continuing Problem The unadjusted trial balance of PS Music as of July 31, 20Y9, along with the adjustment data for the two months ended July 31, 20Y9, are shown in Chapter 3. Based upon the adjustment data, the following adjusted trial balance was prepared: PS Music Adjusted Trial Balance July 31, 2019 Debit Balances Credit Balances Cash Accounts Receivable. Supplies. Prepaid Insurance. Office Equipment... Accumulated Depreciation. Accounts Payable. 5,945 4150 275 2475 7,500 50 5350 Wages Payable..... 140 Unearned Revenue... 3,000 Peyton Smith, Capital 9,000 Payton Smith, Drawing 1,750 Fees Earned..... 21,200 Music Expense... 3,610 Wages Expense..... 2,940 Office Rent Expense..... 2550 Advertising Expense... 1,500 Equipment Rent Expense... 1375 Utilities Expense.... 1215 Supplies Expense... 925 Insurance Expense... 225 Depreciation Expense.. 50 Miscellaneous Expense Lass 42340 42,340 Instructions 1. (Optional) Using the data from Chapter 3, prepare an end-of-period spreadsheet. 2. Prepare an income statement, a statement of owner's equity, and a balance sheet. (Note: Peyton Smith made investments in PS Music on June 1 and July 1, 20Y9.) Answer 3. Journalize and post the closing entries. Indicate closed accounts by inserting a line in both Balance columns opposite the closing entry. 4. Prepare a post-closing trial balance