Balances as of 1 July 2022

TRIAL BALANCE YOUR NAME Furniture Pty Ltd as of 1 July2022,
Account	Dr ($)	Cr ($)
Cash at Bank	30,500
Accounts Receivable	33,000
Inventory control	46,500
Prepaid Insurance	30,000
Shop Fixtures and Equipment	180,000
Accumulated Depreciation - Shop Fixt & Equip		60,000
Accounts Payable		21,500
GST payable (collected)		18,000
GST receivable (paid)	12,000
Accrued Expenses (e.g.,Commission Payable)		15,000
PAYG Withholding Tax		2,000
Provision for dividend		9,000
Loan noncurrent		100,000
Issued and paid-upcapital		65,000
Retained Earnings		41,500
Total	332,000	332,000

Month end adjustments (Accruals)

No GST on accruals.

Date	Month end Adjustments (Accruals)
31st Jul	Shop fixtures andequipment are depreciated at 20% p.a.Straight line methodand the entry forJuly 2021 (being31 days of depreciation) needsto be made.
31st Jul	Sales commission earnedby retail assistants, but not paidat 31st July amounted to $12,000.00.
31st Jul	Prepaid Insurance as at 30 June ($30,000.00) represented the premium paid on annual policy starting on 1 May2021. Record the insurance expense expired for the month of July.
31st Jul	The companys long-term loan is at 7.00% p.a.Interest is paidquarterly but needs to be accrued forJuly (31 days).
31st Jul	Estimated electricity usagefor July amounted to $2,100.00 and this amountis to be accrued as at 31st July.

Make Adjustment entry make ledger and then financial statements.