ecrs At June 30, 2017, the end of its most recent fiscal year. Green River Computer Consultants post-closing trial balance was as follows: Debit Credit Cash $5,230 Accounts receivable 1,200 Supplies 690 Accounts payable $400 Unearned service revenue 1.120 Common stock 1.600 Retained earnings 2,000 $7.120 $7.120 The company underwent a major expansion in July. New staff was hired and more financing was obtained. Green River conducted the following transactions during July 2017, and adjusts its accounts monthly July 1 Purchased equipment, paying $4,000 cash and signing a 2-year note payable for $20,000. 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 20,000 shares of common stock for $50.000 cash 3 Paid $3.600 cash for a 12-month insurance policy effective July 1 3 Paid the first 2 (July and August 2017) months' rent for an annual lease of office space for $4,000 per month. 6 Paid $3.800 for supplies 9 Visited dient offices and agreed on the terms of a consulting project. Green River will bill the client, Connor Productions, on the 20th of each month for services performed 10 Collected $1.200 cash on account from Milani Brothers. This client was billed in June when Green River performed the service 13 Performed services for Fitzgerald Enterprises. This client paid $1.120 in advance last month. All services relating to this payment are now completed 14 Paid $400 cash for a utility bill. This related to June utilities that were accrued at the end of June. 16 Met with a new client, Thunder Bay Technologies. Received $12,000 cash in advance for future services to be performed 18 Paid semi-monthly salaries for $11.000 20 Performed services worth $28.000 on account and billed customers 20 Received a bill for $2.200 for advertising services received during July. The amount is not due until August 15. 23 Performed the first phase of the project for Thunder Bay Technologies Recognized $10,000 of revenue from the cash advance received July 16 27 Received $15,000 cash from customers billed on July 20