Data: Lee Chang opened Chang's Cleaning Service, Inc. on July 1, 2008. During July the following transactions occurred: July 1: Chang invested $20,000 cash in the business. July 1: Purchased a used truck for $9,000, paying $4,000 cash& the balance on count. July 3: Purchased cleaning supplies for $2,100 on account. July 5: Paid $1,800 cash for a one-year insurance policy effective July 1. July 12: Billed customers $4,500 for cleaning services. July 18: Paid $1,500 cash on amount owed on truck and $1,400 on amount owed on cleaning supplies (you may do one entry for the combined transaction or two single ones). July 20: Paid $2,000 cash for employee salaries. July 21: Collected $3,400 cash from customers billed in Transaction #5. July 25: Billed customers $9,000 for cleaning services. July 31: Paid gas &oil for monthly on the truck, $350 July 31: Withdrew $1,600 AS A DIVOENO. Instructions: a) Journalize and post the July transactions. Use the attached J1 for the journal and the attached T-Account form for the ledger. b) Prepare a Trial Balance at July 31. c) Complete the Worksheet (like the one used in class/shown in text). d Journalize and post the following Adjustments at July 31. Use the attached J2 for these Adjustments: d) Journalize and post the following Adjustments at July 31. Use the attached J2 for these Adjustments: 1. Service provided but unbilled and uncollected at July 31 were $2,700. 2. Depreciation on the truck is straight-line over 18 months with no 3. One-twelfth of the insurance expired. 4. An inventory count shows $700 of cleaning supplies 5. Accrued and unpaid wages are as follows: Chang's has a five-day work week (Monday to Friday); employees are paid every Friday. The weekly payroll is $1,250; July31 falls on a Thursday. e) Prepare the Income Statement, Statement of Owner's Equity and Balance Sheet at July 31. t Journalize and post the Closing entries. Use the attached J3 for these adjustments. You may use either the Income Summary format that we used in class or the format described in the book for closing the temporary accounts at July 31. g) Prepare a Post-closing Trial Balance at July 31. There is a form provided for this too-on the backside of the J2/3 form. h) Please refer to the appropriate C.1-C.4 chapters for information regarding formats (e.g. Financial Statements) and methods (e.g. adjustments, closing process, etc.) salvage value. on hand at July 31