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Ashley Williams opened Ashley's Maids Cleaning Service on July 2017. During July, the company completed the following transactions. July 1 Invested dollar 14,000 cash in

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Ashley Williams opened Ashley's Maids Cleaning Service on July 2017. During July, the company completed the following transactions. July 1 Invested dollar 14,000 cash in the business 1 Purchased a used truck for dollar 10,000, paying dollar 3,000 cash and the balance on account. 3 Purchased cleaning supplies for dollar 800 on account. 5 Paid dollar 2, 160 on a 1-year insurance policy, effective July 1 12 Billed customers dollar 3, 800 for cleaning services. 18 Paid dollar 1,000 of amount owed on truck, and dollar 400 of amount owed on cleaning supplies 20 Paid dollar 1, 600 for employee salaries. 21, Collected dollar 1, 400 from customers billed on July 12 25 Billed customers dollar 1, 900 for cleaning services. 31 Paid gasoline for the month on the truck, dollar 400. 31 Withdrew dollar 700 cash for personal use The chart of accounts for Ashley's Maids cleaning Service contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated Depreciation-Equipment, No. 201 Accounts Payable, No. 212 Salaries and Wages Payable, No. 301 owner's Capital, No, 306 Owner's Drawings, No. 350 Income Summary, No. 400 Service Revenue, No. 631 Supplies Expense, No. 633 Gasoline Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries and Wages Expense. Instructions Journalize and post the July transactions. Use page J1 for the journal Prepare a trial balance at July 31 on a worksheet Enter the following adjustments on the worksheet, and complete the worksheet. Unbilled fees for services performed at July 31 were dollar 1, 300 Depreciation on equipment for the month was dollar 200. One-twelfth of the insurance expired. An inventory count shows dollar 100 of cleaning supplies on hand at July 31. Accrued but unpaid employee salaries were dollar 500 Prepare the income statement and owner's equity statement for July, and a classified balance sheet at July 31, 2017 Journalize and post the adjusting entries. Use page J2 for the journal. Journalize and post the closing entries, and complete the closing process. Use page J3 for the journal. Prepare a post-closing trial balance at July 31

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