At June 30, 2022, the end of its most recent frscal year Grouper Computer Conultants' post-dlosing trial balance was as follows Debit Credit Cash $4500 Accounts recevable 1030 Supplies 590 Accounts payable $340 Unearned service revenue 960 Common stock 3,100 Retained earnings 1720 S6,120 $6120 The company underwent a major expansion in July New staf was hired and more financing was obtained Grouper conducted the following transactions during July 2022 and adjusts its accounts monthly 1 Purchased equipment, paying $3.200 cash and signing a2-year note payable for $17.200 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 July Issued 17,200shares of common stock for $43,000 cash Paid $3,000 cash for a 12-month insurance policy effective July 1 Paid the first 2 Uuly and August 2022) months rent for an annual lease of office space for $3,400 per month 2 3 3 Paid $3,300 for supplies 6 Visited client offices and agreed on the terms of a consulting project. Grouper will bill the client, Connor Productions, on 9 the 20th of each month for services performed Colected $1.030 cash on account from Milani Brothers. This clent was billed in June when Grouper performed the 10 service Performed services for Fitzgerald Enterprises. This client paid $960 in advance last month All services relating to this 13 payment are now completed. 14 Paid $340 cash for a utility bil. This related to June utilities that were accrued at the end of June 16 Met with a new client, Thunder Bay Technologies Received $10,300 cash in advance for future services to be performed 18 Paid semi-monthly salaries for $9,500 20 Performed services worth $24.100 on account and billed customers 20 Received a bill for $1,9000 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. Recopgnized $8.600 of revenue from the cash 23 advance received July 16 Received $12,900 cash from customers billed on July 20 27 Adjustment data: Adiustment of prepaid insurance 1. Adjustment of prepaid rent 2 3 Supplies used $1.100 4 Equipment depreciation $425 per month 5. Accrual of interest on note payable. Salaries for the second half of July $9,500, to be paid on August 1 6 7. Estimated utilities expense for July, $690 Dinvoice will be received in August) Income tax for July, $1,030, will be paid in August 8. The chart of accounts for Grouper 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, Supplies Expense, and Utilities Expense. Utilities Expense. Enter the July 1 balances in the ledger accounts Cash Accounts Receivable Supplies Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Journale the July transactions Cedit autes are automatically indented when he mu isentered De net indent manaally Recond jurmal etrles in the onder presented in the pblemeenry smed seect e Entryfor the acnt and enter O for the amounts) Account Titles and Explanation Date Debt reun