Accounting Cycle Review 4-01 a-i

Mike Greenberg opened Bramble Window Washing Co. on July 1, 2020. During July, the following transactions were completed.

July 1		Owner invested $9,400 cash in the company.
1		Purchased used truck for $6,240, paying $1,560 cash and the balance on account.
3		Purchased cleaning supplies for $700 on account.
5		Paid $1,440 cash on a 1-year insurance policy effective July 1.
12		Billed customers $2,890 for cleaning services performed.
18		Paid $780 cash on amount owed on truck and $390 on amount owed on cleaning supplies.
20		Paid $1,560 cash for employee salaries.
21		Collected $1,250 cash from customers billed on July 12.
25		Billed customers $1,950 for cleaning services performed.
31		Paid $230 for maintenance of the truck during month.
31		Owner withdrew $470 cash from the company.

Journalize the following adjustments. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

1.		Services performed but unbilled and uncollected at July 31 were $1,330.
2.		Depreciation on equipment for the month was $140.
3.		One-twelfth of the insurance expired.
4.		A count shows $250 of cleaning supplies on hand at July 31.
5.		Accrued but unpaid employee salaries were $310.

Prepare an owners equity statement for July.

Prepare a classified balance sheet at July 31.

Journalize the closing entries. Post closing entries and complete the closing process.

Prepare a post-closing trial balance at July 31.