At June 30, 2017, the end of its most recent fiscal year, Flounder Computer Consultants post-closing trial balance was as follows:

		Debit		Credit
Cash		$4,390
Accounts receivable		1,010
Supplies		580
Accounts payable				$340
Unearned service revenue				940
Common stock				3,000
Retained earnings				1,700
		$5,980		$5,980

The company underwent a major expansion in July. New staff was hired and more financing was obtained. Flounder conducted the following transactions during July 2017, and adjusts its accounts monthly.

July	1		Purchased equipment, paying $3,600 cash and signing a 2-year note payable for $16,800. 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 16,800 shares of common stock for $42,000 cash.
	3		Paid $3,000 cash for a 12-month insurance policy effective July 1.
	3		Paid the first 2 (July and August 2017) months rent for an annual lease of office space for $3,400 per month.
	6		Paid $3,200 for supplies.
	9		Visited client offices and agreed on the terms of a consulting project. Flounder will bill the client, Connor Productions, on the 20th of each month for services performed.
	10		Collected $1,010 cash on account from Milani Brothers. This client was billed in June when Flounder performed the service.
	13		Performed services for Fitzgerald Enterprises. This client paid $940 in advance last month. All services relating to this payment are now completed.
	14		Paid $340 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 $10,100 cash in advance for future services to be performed.
	18		Paid semi-monthly salaries for $9,200.
	20		Performed services worth $23,500 on account and billed customers.
	20		Received a bill for $1,800 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 $8,400 of revenue from the cash advance received July 16.
	27		Received $12,600 cash from customers billed on July 20.

Adjustment data:

1.		Adjustment of prepaid insurance.
2.		Adjustment of prepaid rent.
3.		Supplies used, $1,050.
4.		Equipment depreciation, $425 per month.
5.		Accrual of interest on note payable.
6.		Salaries for the second half of July, $9,200, to be paid on August 1.
7.		Estimated utilities expense for July, $670 (invoice will be received in August).
8.		Income tax for July, $1,010, will be paid in August.

Enter the July 1 balances in the ledger accounts.

Enter the July 1 balances in the ledger accounts. Cash Accounts Receivable Supplies Accounts Payable Unearned Service Revenue Common Stock Retained Earnings