Heidi Jara opened Jara's Cleaning Service on July 1, 2020. During July, the following transactions were completed.

July 1		Stockholders invested $20,000 cash in the business in exchange for common stock.
1		Purchased used truck for $9,000, paying $4,000 cash and the balance on account.
3		Purchased cleaning supplies for $2,100 on account.
5		Paid $1,800 cash on a 1-year insurance policy effective July 1.
12		Billed customers $4,500 for cleaning services.
18		Paid $1,500 cash on amount owed on truck and $1,400 on amount owed on cleaning supplies.
20		Paid $2,500 cash for employee salaries.
21		Collected $3,400 cash from customers billed on July 12.
25		Billed customers $6,000 for cleaning services.
31		Paid $350 for the monthly gasoline bill for the truck.
31		Paid a $5,600 cash dividend.

The chart of accounts for Jara's Cleaning Service contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated DepreciationEquipment, No. 201 Accounts Payable, No. 212 Salaries and Wages Payable, No. 311 Common Stock, No. 320 Retained Earnings, No. 332 Dividends, No. 350 Income Summary, No. 400 Service Revenue, No. 631 Supplies Expense, No. 633 Gasoline Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries and Wages Expense.

Instructions

b.Trial balance $34,700

c.Adjusted trial balance $38,900

d.Net income $7,200

Total assets $26,800

g.Post-closing trial balance $27,300

a.Journalize and post the July transactions. Use page J1 for the journal and the three-column form of account.

b.Prepare a trial balance at July 31 on a worksheet.

c.Enter the following adjustments on the worksheet and complete the worksheet.

1.Unbilled and uncollected revenue for services performed at July 31 were $2,700.

2.Depreciation on equipment for the month was $500.

3.One-twelfth of the insurance expired.

4.An inventory count shows $600 of cleaning supplies on hand at July 31.

5.Accrued but unpaid employee salaries were $1,000.

d.Prepare an income statement and a retained earnings statement for July and a classified balance sheet at July 31.

e.Journalize and post adjusting entries. Use page J2 for the journal.

f.Journalize and post closing entries and complete the closing process. Use page J3 for the journal.

g.Prepare a post-closing trial balance at July 31.

Jara's Cleaning Service Worksheet For The Month Ended July 31, 2020 Adjusted Trial Balance Trial Balance Adjustments Balance Sheet Income Statement Dr. Cr Account Titles Dr. Cr. Dr. Cr. Dr. Cr Dr. Cr. 1 a 2,700 12 6,250 7,100 2,100 1,800 9,000 3 14 15 16 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Common Stock Dividends Service Revenue Gasoline Expense Salaries and Wages Expense Totals 4,200 20,000 7 5,600 | 8 10,500 2,700 a 19 350 10 11 2,500 34,700 34,700 12 13 14 15 16 Depreciation Expense Accumulated Depreciation - Equipment Insurance Expense Supplies Expense Salaries and Wages Payable Totals Net Income 17 18 19 20 Totals 21 22 *Trial Balance columns already entered for you. *Adjustments columns - first adjusting entries already entered for you and labeled with "a". You need to make the remaining 4 adjusting journal entries. *Complete the remaining worksheet columns