Journal Balance Sheet Instructions Krittersbegone Inc. was organized on July 1 by a group of technicians to provide termite inspections and treatment to homeowners and small businesses. The following transactions occurred during the first month of business July 2 6 July Transactions: Received contributions of $3,000 from each of the six owners in exchange for shares of stock. 3 Paid $1,000 rent for the month of July. 5 Purchased flashlights, tools, spray equipment, and ladders for $18,000, with a down payment of $5,000 and the balance due in 30 days. 17 Paid a $200 bill for the distribution of door-to-door advertising. 28 Paid August rent and July utilities to the landlord in the amounts of $1,000 and $450, respectively, Received $8,000 in cash from homeowners for services performed during the month. In addition, billed $7,500 to other customers for services performed during the month. Billings are due in 30 days. Paid commissions of $9,500 to the technicians for July 30 30 Required: 1. Prepare journal entries on the books of Knittersbegone to record the transactions entered into during the month. Ignore depreciation expense. 2. Prepare a classified balance sheet dated July 31 Previous ck My Work Save and Exit Submit Assignment for Grading All work saved