At June 30, 2022, the end of its most recent fiscal year. Pina Colada Computer Consultants post closing trial balance was as follows: Credit Debit $5,340 1.300 760 Cash Accounts receivable Supplies Accounts payable Unearned service revenue Common stock Retained earnings $430 1,160 3,350 2.460 $7.400 $7.400 The company underwent a major expansion in July, New staff was hired and more financing was obtained. Pina Colada conducted the following transactions during July 2022 and adjusts its accounts monthly July 1 2 Purchased equipment, paying $4.000 cash and signing a 2 year note payable for $20.000. 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 issued 20.000 shares of con non stock for $50,000 cash Paid $81360 casistor S2-month insurance policy effective July 1 Paid the first stand August 2012 months rent for allease of the space for $4100 bermonth 3 3 - July 1 3 6 9 10 13 Purchased equipment, paying $4,000 cash and signing a 2-year note payable for $20,000. 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. Issued 20,000 shares of common stock for $50,000 cash. Paid $3.360 cash for a 12-month insurance policy effective July 1 Paid the first 2 Ouly and August 2022) months' rent for an annual lease of office space for $4,100 per month. Paid $3,500 for supplies. Visited client offices and agreed on the terms of a consulting project. Pina Colada will bill the client, Connor Productions on the 20th of each month for services performed. Collected $1,300 cash on account from Milani Brothers. This client was billed in June when Pina Colada performed the service. Performed services for Fitzgerald Enterprises. This client paid $1.160 in advance last month. All services relating to this payment are now completed. Paid $430 cash for a utility bill. This related to June utilities that were accrued at the end of June. Met with a new client. Thunder Bay Technologies. Received $11.300 cash in advance for future services to be performed Paid semi-monthly salaries for $10,800, Performed Services worth $27.500 on account and billed customers, Received a bill for $2.300 for advertising Services received during July. The amount is not due until August 15. Performed the first phase of the project for Thunder Bay Technologies. Recognized $9.300 of revenue from the cash advance received July 16, Received $16.200 cash from customers billed on July 20 14 16 18 20 20 23 27 27 Received $16.200 cash from customers billed on July 20. The chart of accounts for Pina Colada 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, 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. (a) Enter the July 1 balances in the ledger accounts Cash Accounts Receivable Enter the July 1 balances in the ledger accounts. Cash July 1 Bal Accounts Receivable July 1 Bal. Supplies July 1 Bal Accounts Payable July 1B Unearned Service Revenue Supplies July 1 Bal. Accounts Payable July 1 Bal Unearned Service Revenue July 1 Bal Common Stock July 1 Bal Retained Earnings July 1 Bal Prepare a trial balance at July 31. PINA COLADA COMPUTER CONSULTANTS Trial Balances July 31, 2022 Debit Credit Cash Accounts Receivable Supplies Prepaid Insurance Prepaid Rent Et Uncam Service Reven Notes Prepaid Rent Equipment Accounts Payable Unearned Service Revenue Notes Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Experts Advertising Expense