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 $5,730 Accounts receivable 1.200 Supplies 760 Accounts payable $360 Unearned service revenue 1,140 Common stock 3,740 Retained earnings 2.450 $7.690 $7,690 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 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 22.000 shares of common stock for 555.000 cash Pald S 3720 cash for a 12-month insurance policy effective July 1 Paid the first 2 duty and August 2022) months rent for an annual lease of office space for 53.800 per month 3 3 6 Pald $4.100 for supplies 9 10 the service 13 14 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 Collected $1.200 cash on account from Milani Brothers. This alert was billed in June when Blue Spruce performed Performed services for Fitzgerald Enterprises. This event paid $1,100 in advance last month. All services relating to this payment are now completed Pald 5360 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 $12,500 cash in advance for future services to be performed Paid semi-monthly salaries for $10.500 Performed services worth $27,700 on account and billed customers Received a bill for 52.400 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 510 P00 of revenue from the cash advance reved July 16 16 18 20 20 22 Recolved 514 400 cash from customer billed on July 20 (a) Enter the July 1 balances in the ledger accounts. Cash Accounts Receivable Supplies Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Prepare a trial balance at July 31 BLUE SPRUCE COMPUTER CONSULTANTS Trial Balances Debit Credit Testbank and Media 181) Prepare an income statement for July BLUE SPRUCE COMPUTER CONSULTANTS Income Statement $ 5 (82) Prepare a retained earning statement for July. BLUE SPRUCE COMPUTER CONSULTANTS Retained Earnings Statement $