Complete all steps in an accounting cycle utilizing Excel.

Daniel Grimm & Tim Turensek opened Clean Window Washing Inc. on July 1, 2015. During July, the following transactions were completed.

July 1	Issued 12,000 shares of common stock for $12,000 cash.
1	Purchased used truck for $8,000, paying $2,000 cash and the balance on account (AP).
3	Purchased cleaning supplies (asset) for $900 on account.
5	Paid $1,800 cash on a 1-year insurance policy effective July 1.
12	Billed customers $3,700 for cleaning services.
18	Paid $1,000 cash on amount owed on truck and $500 on amount owed on cleaning supplies.
20	Paid $2,000 cash for employee salaries. (Salaries and Wages Expense)
21	Collected $1,600 cash from customers billed on July 12.
25	Billed customers $2,500 for cleaning services.
31	Paid $290 for maintenance of the truck during month. (Maintenance and Repairs Expense)
31	Declared and paid $600 cash dividend.

Instructions

1.	Journalize the July transactions.
2.	Post to the ledger accounts. (Use T-accounts.)

3.

Prepare a trial balance at July 31. (Trial Balance = $23,600)

Journalize the following adjustments (adjusting journal entries)

1.	Services performed but unbilled and uncollected at July 31 were $1,700. (Need to bill the client.)
2.	Depreciation on equipment for the month was $180. (Dont need to calculate depreciation, use the amount given.)
3.	One-twelfth of the insurance expired.
4.	An inventory count shows $320 of cleaning supplies on hand at July 31.
5.	Accrued, but unpaid employee salaries were $400. (We need to record the expense and the amount due to the employees.)

5.	Post adjusting entries to the T-accounts.
6.	Prepare an adjusted trial balance. (Adjusted TB = $25,880)

7.	Prepare the income statement and a retained earnings statement for July and a classified balance sheet at July 31. (Net Income = $4,300, Total Assets = $21,500)
8.	Journalize and post the closing entries.

9.	Prepare a post-closing trial balance at July 31. (Only assets, liabilities and equity appear on a PCTB. Revenue, expenses, and dividends, have been closed.)