At June $30,2025,$ the end of its most recent fiscal year, Ayayai Computer Consultants' post$-$closing trial balance was as follows.

The company underwent a major expansion in July. New staff was hired and more financing was obtained. Ayayai conducted the

following transactions during July $2025,$ and adjusts its accounts monthly.

July $1$ Purchased equipment, paying $$4,800$ cash and signing a $2-$year note payable for $$24,000.$ The equipment has a $4-$year

useful life. The note has a $6\%$ interest rate which is payable on the first day of each following month.

$2$ Issued $24,000$ shares of common stock for $$60,000$ cash.

$3$ Paid $$4,200$ cash for a $12-$month insurance policy effective July $1.$

$3$ Paid the first $2($July and August $2025)$ months' rent for an annual lease of office space for $$4,800$ per month.

$6$ Paid $$4,600$ for supplies.

$9$ Visited client offices and agreed on the terms of a consulting project. Ayayai will bill the client, Connor Productions, on

the $20$th of each month for services performed.

$10$ Collected $$1,440$ cash on account from Milani Brothers. This client was billed in June when Ayayai performed the

service.

$13$ Performed services for Fitzgerald Enterprises. This client paid $$1,340$ in advance last month. All services relating to

this payment are now completed.

$14$ Paid $$480$ cash for a utility bill. This related to June utilities that were accrued at the end of June.

$16$ Met with a new client, Thunder Bay Technologies. Received $$14,400$ cash in advance for future services to be

performed.

$18$ Paid semi$-$monthly salaries for $$13,200.$

$20$ Performed services worth $$33,600$ on account and billed customers.

$20$ Received a bill for $$2,600$ for advertising services received during July. The amount is not due until August $15.$

$23$ Performed the first phase of the project for Thunder Bay Technologies. Recognized $$12,000$ of revenue from the cash

advance received July $16.$

$27$ Received $$18,000$ cash from customers billed on July $20.$

Adjustment data:

Adjustment of prepaid insurance.

Adjustment of prepaid rent.

Supplies used, $$1,500.$

Equipment depreciation, $$600$ per month.

Accrual of interest on note payable.

Salaries for the second half of July, $$13,200,$ to be paid on August $1.$

Estimated utilities expense for July, $$960($invoice will be received in August$).$

Income tax for July, $$1,440,$ will be paid in August.

The chart of accounts for Ayayai Computer Consultants contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid

Insurance. Prepaid Rent, Equipment, Accumulated Depreciation$-$Equipment, Accounts Payable, Notes Payable, Interest Payable,

Income Taxes Payable, Salaries and Wages Payable, Unearned Service Revenue, Common Stock, Retained Earnings, Dividends, Income

Summary, Service Revenue, Supplies Expense, Depreciation Expense, Insurance Expense, Salaries and Wages Expense, Advertising

Expense, Income Tax Expense, Interest Expense, Rent Expense, and Utilities Expense.

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