At June 30, 2022, the end of its most recent fiscal year, Blue Spruce Computer Consultants' post-closing trial balance was as follows: Debit Credit Cash $5.180 Accounts receivable 1,270 Supplies 740 Accounts payable $420 Unearned service revenue 1.140 Common stock 3,280 Retained earnings 2,350 $7,190 $7,190 The company underwent a major expansion in July. New staff was hired and more financing was obtained. Blue Spruce conducted the following transactions during July 2022, and adjusts its accounts monthly. July 1 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. 2. Issued 19,000 shares of common stock for $47,500 cash. 3 Paid $3,240 cash for a 12-month insurance policy effective July 1. 3 Paid the first 2 (July and August 2022) months' rent for an annual lease of office space for $4,200 per month. 6 Paid $3,500 for supplies. 9 Visited client offices and agreed on the terms of a consulting project. Blue Spruce will bill the client, Connor Productions, on the 20th of each month for services performed. 10 Collected $1,270 cash on account from Milani Brothers. This client was billed in June when Blue Spruce performed the service. 13 Performed services for Fitzgerald Enterprises. This client paid $1,140 in advance last month. All services relating to this payment are now completed. 14 Paid $420 cash for a utility bill. This related to June utilities that were accrued at the end of June. 9 Visited client offices and agreed on the terms of a consulting project. Blue Spruce will bill the client, Connor Productions, on the 20th of each month for services performed. 10 Collected $1,270 cash on account from Milani Brothers. This client was billed in June when Blue Spruce performed the service. 13 Performed services for Fitzgerald Enterprises. This client paid $1,140 in advance last month. All services relating to this payment are now completed. 14 Paid $420 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 $11,100 cash in advance for future services to be performed. 18 Paid semi-monthly salaries for $10,600. 20 Performed services worth $25,600 on account and billed customers. 20 Received a bill for $2,400 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 $10,300 of revenue from the cash advance received July 16. 27 Received $14,600 cash from customers billed on July 20. The chart of accounts for Blue Spruce 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. Prepare a trial balance at July 31 BLUE SPRUCE COMPUTER CONSULTANTS Trial Balances Debit Credit $ Cash July 1 Bal 5,180 July 1 4.000 July 2 47500 July 3 2 3240 July 10 a 1270 July 3 8400 July 16 11100 July 6 3500 July 27 14600 July 14 420 July 18 10600 July 31 Bal. 49490 Accounts Receivable July 1 Bal. 1.270 July 10 1270 July 20 25600 July 27 14600 July 31 Balo 11000 Prepaid Insurance July 3 3240 July 31 Bal. 3240 Supplies July 1 bal 740 July 6 e 3500 July 31 Bal : Prepaid Rent July 3 8400 July 31 Bal 8.400 Equipment 1 2000 Equipment Olyi BARNE July 31 Bale BO Accounts Payable July 14 420 July 1 Bal 420 Lily zo 2400 July 31841 2820 Unearned Service Revenue July 13 1:40 July 1 Bal 1140 July 23 10300 July 16 11100 July 31 Bal. 800 Notes Payable July 1 200 July 31 Ball 2000D Common Stock Ally 1 Bal 3.280 July 2 200 Joly 31 Balt 50780 Retained Earnings July 1 Bat 2.350 July 31 Bal 2.350 Service Revenue uly 13 July 20 23000 July 22 July 31 700 Salaries and Wages Expense July 18 10600 July 31 Bal. 10600 Advertising Expense July 20 2400 July 31 Bal 2400 eTextbook and Media List of Accounts Date Account Titles and Explanation Debit Credit July 1 Equipment 24,000 Cash 4000 Notes Payable 20.000 July 2 'Cash 47500 Common Stock 47500 July 3 Prepaid insurance 3240 Cash 03200 July 3 Prepaid Rent 8400 8.000 July 6 Suno 500 July 6 Sapsille 3500 CH SE500 July 9 . No Entry No Entry July 10 Cash 1270 Accounts Receivable July 13 ? Untamed Service Reno 1140 Service Revenue 1100 July 143 Accounts Payab Canti July 16 : Cash July 18 : Staries and Wespensa 10600 C 10000 July 20 Accounts Receivable 25.600 Service Reven 20.000 July 20 Achething per 2400 Accounts Paste 2000 Soy 23 Unce Service Service 10300 Jul 27 TO