Current Attempt in Progress Mike Greenberg opened Pronghorn Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. July 1 Issued 11,800 shares of common stock for $11,800 cash. 1 3 5 Purchased used truck for $7,840, paying $1,960 cash and the balance on account. Purchased cleaning supplies for $880 on account. Paid $1,800 cash on a 1-year insurance policy effective July 1. 12 Billed customers $3,630 for cleaning services performed. 18 Paid $980 cash on amount owed on truck and $490 on amount owed on cleaning supplies. 20 Paid $1,960 cash for employee salaries. 21 Collected $1,570 cash from customers billed on July 12. 25 Billed customers $2.450 for cleaning services performed. 31 Paid $280 for maintenance of the truck during month. 31 Declared and paid $590 cash dividend. The chart of accounts for Pronghorn Window Washing contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Salaries and Wages Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense. Supplies Expense. Depreciation Expense, Insurance Expense, and Salaries and Wages Expense. Journalize the following adjustments. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) (1) Services performed but unbilled and uncollected at July 31 were $1.670. (2) Depreciation on equipment for the month was $180. (3) One-twelfth of the insurance expired. (4) A count shows $310 of cleaning supplies on hand at July 31. (5) Accrued but unpaid employee salaries were $390. Prepare the income statement for July. PRONGHORN WINDOW WASHING INC. Income Statement For the Month Ended July 31, 2022 Revenues Service Revenue Expenses Salaries and Wages Expense Supplies Expense Insurance Expense 1960 880 150 i Maintenance and Repairs Expense 280 i Depreciation Expense Total Expenses Total Expenses 6080 1310 4770