During its first month of operation, Peter's Pool Corporation, which specializes in pool repairs, completed the following transactions. Date July 1 July 1 July 1 July 6 July 8 July 10 July 11 July 18 July 20 July 31 July 31 July 31 July Transactions Transaction Description Began business by making a deposit in a company bank account of $40,000, in exchange for 4,000 shares of $10 par value common stock. Paid the premium on a 1-year insurance policy, $4,800. Paid the current month's store rent expense, $3,600. Purchased repair equipment from Paul's Pool Equipment Company, $7,800. Paid $600 down and the balance was placed on account. Purchased repair supplies from Mary's Repair Company on credit, $450. Paid telephone bill, $300. Cash pool service revenue for the first third of July, $2,650. Made payment to Mary's Repair Company, $300. Cash pool service revenue for the second third of July, $4,000. Cash pool service revenue for the last third of July, $2,250. Paid the current month's electric bill, $500. Declared and paid cash dividend of $1,100. Requirement #8: Prepare the closing entries at July 31 in the General Journal below. Hint: Use the balances for each account which appear on the Adjusted Trial Balance for your closing entries. Requirement #9: Post the closing entries to the T-Accounts on the General Ledger (Step 2) worksheet and compute ending balances. Just add to the adjusted balances already listed. Date Account Number from Chart of Accounts tab General Journal Account Title from Chart of Accounts tab Debit Credit MENT #2: POST The July journal entries to the following 1-Accounts and compute ending balances. te Cash (111) Date Pool Service Revenue (411) Jul 40,000 4,800 11-Jul 2,650 Jul 3,600 20-Jul 4,000 Jul 600 31-Jul 2,250 -Jul 300 -Jul 2,650 Balance 8,900 -Jul 300 -Jul 4,000 -Jul 2,250 500 -Jul 1,100 48,900 11,200 nce 37,700 Jul nce Jul nce Jul Repair Supplies (117) 450 450 Prepaid Insurance (119) 4,800 4,800 Repair Equipment (144) 7,800 1-Jul Balance Store Rent Expense (511) 3,600 3,600 Telephone Expense (512) 10-Jul 300 Balance 300 Insurance Expense (513)