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Current Attempt in Progress At June 30, 2022. the end of its most recent fiscal year, Grouper Computer Consultants post-closing trial balance was as follows:

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Current Attempt in Progress At June 30, 2022. the end of its most recent fiscal year, Grouper Computer Consultants post-closing trial balance was as follows: Debit Credit $4.500 1.030 Accounts receivable Supplies 590 Accounts payable $340 Unearned service revenue 960 Common stock 3,100 Retained earnings 1.720 56,120 $6,120 The company underwent a major expansion in July. New staff was hired and more financing was obtained. Grouper conducted the following transactions during July 2022. and adjusts its accounts monthly July 1 Purchased equipment, paying $3.200 cash and signing a 2-vente 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 2 issued 17 200 shares of common stock for $43.000 cash 3 Paid $3,000 cash for a 12-month insurance policy effective July 1 3 Paid the first 2 Ouly and August 2022) months rent for an annual lease of office space for $3.400 per month 6 Paid $3.300 for supplies. Visited client offices and agreed on the terms of a consulting project. Grouper will bill the client. Connor Productions, on the 20th of each month for services performed Collected $1.030 cash on account from Milani Brothers. This client was billed in June when Grouper performed the service. Performed services for Fitzgerald Enterprises. This client paid $950 in advance last month. All services relating to this 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 $1.200 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 $8.600 of revenue from the cash advance received My 16. 27 Received $12.900 cash from customers billed on July 20 Adjustment data: 1. Adustment of orepaid insurance 2. Adjustment of prepaid rent. 3. Supplies used. 51.100 4. Equipment depreciation $425 per month 5. Accrual of interest on note payable. 6. Salaries for the second half of July 59.500, to be paid on August 1 7. Estimated utilities expense for July $690 invoice will be received in August 8. Income tax for July $1.030, will be paid in August 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 Post to the ledger accounts. (Post entries in the order of Journal entries presented in the previous part.) Cash July 1 Bal 4,500 Accounts Receivable July 1 Bal Prepaid Insurance Supplies July 1 bal Equipment Accounts Payable July 1 Bal 340 Accounts Payable July 1 Bal Unearned Service Revenue July 1 Notes Payable Common Stock July 1 Bal 3.100 Retained Earnings July 1 Bal 1720 Service Revenue Salaries and Wages Expense Advertising Expense

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