I need help with

(e)

Journalize and post adjusting entries for the month ending July 31.

Accounting Cycle Review 4-4 (Part Level Submession At lune 0, 2017, the end of itsmost rcent fasal yeat, Concord Compater Cansultants post-csing balacn was asfollans: Oebit Creelit Accounts receivable 440 1,200 ,000 Acounts paysble Common stock Retained earnings 57,330 7,D The compsny underwent s major expension in July. New staff wss hired and more fingnting was obtaimed. Concord conducted the following tranaactions during uly 2017, and ad justs ita accounts monthly note has 6% interest rate which is payable on the hrst day of each tollowing month. 2 Issued 22,000 shares of m mon stock for $55,000 cash 3 Paid $4,200 cash for a 12-month irsurance pclicy effective July 1 6 Paid $4,200 ter supplis Visted client offices and spreed on the terms of a consulina project. Concord will bill the client, Connor Productions, on the 20th of esch morth for services performed Celle::led1,320 :ash an "E%nurT' rram Mian Brothers. Thi, client as billed r lun" athen Cont trel perf:rmed thee servix. Performed services tor Ft2gerald Enterprises. This client pad $1,230 in 2dvance 12st month. All services relating to this payment are now completed Paid S440 cesh for utlity bill. This related to June utiities that were accrued at the end of June. 10 13 14 8 Paid semi-monthly salaries tor 12,100 20 Performed services worth $30,800 on account and blled customers. 20 Received sbill for $2,400 for advertising services received during Juhs. The smount is not due unti Augus: 15 uy ie. 7 Received $16,500 cash from customers billed on July 20. Adjustment dats: Adjustment of prepaid insursnce. 2. Adjustment of prepsid rent. 8. Suppies ued, $1,40. 4. Equipment deprcostion, $550 per month. . Accrual of interest cn nate payable 0, Salaries for the second ha F of July, $12,100, to be psid on August 1 Fstimated utilities expense for July,880 (invme, will be received ir: Auqust) s. Income tax for July, S.320, will be paid in August. The chart of accourts fer Concord Computer Consultants contsins the following accounts: Cash, Accounts Receivable, Supplies, Frepaid Insurance. Prep5id Kent. Equipment,ocumulsted Ueprecistion-tquipment, accounts P5rebe. Note5 Psyeble. Interest Payable, Income Taxes p5yeble. Supplies Expense, Depreciation Expense, insuranoc Expense, Salanes and Wages Expense, Advertisna Expense, Income Tax Expense, Interes Expense, Rent Expense, Supplies Expense, and Ublites Expense (a) Your snswer is corect Enter the July 1 bslences in the ledger accounts. Cash July 1 Bal. Accounts Paya ble mon Stock Attempts: 1 of 5 used Your snswer is comect Journalize the July transsctions, (Credrt account titles are automatically andented when the amount is entered. Do not andent manually, Record journal entries in the order presented in the probleen. If mo entry is requinest, sefect "No Entry" for the aoeant titles and eater 0 for the amounts.) Date Account Tides and Explanation Debit Credit