July 1	Acquired $28,000 cash by issuing common stock.
July 2	Paid $6,600 cash in advance for a one-year lease on an office.
July 2	Borrowed $18,000 from National Bank by signing a two-year note with interest at 9% per year. The principal and interest will be repaid on July 1, 2021.
July 3	Paid $14,400 cash for office equipment with a useful life of 5 years and no salvage value.
July 4	Paid $300 cash for a one-year insurance policy.
July 7	Purchased supplies on account for $450.
July 10	Earned $9,000 of consulting revenue. Client paid cash.
July 15	Hired a secretary-receptionist and agreed to pay him $1,200 a month, payable the first of every month for the wages earned in the prior month.
July 20	Received monthly utility bill for $120. It will be paid in August.
July 22	Received $3,000 from a client for services to be performed in August
July 25	Billed clients for providing $8,000 in services.
July 28	Paid for supplies purchased on July 7.
July 30	Collected $2,700 from accounts receivable.

Requirement #2: Prepare an unadjusted trial balance for July 31, 2019.

Information for adjusting entries for July 31:

July 31	Make the adjustment for interest on the note payable.
July 31	Make the adjustment for depreciation.
July 31	Make the adjustment for insurance.
July 31	Counted the supplies, had $100 of supplies on hand.
July 31	Make the adjustment for rent expense.
July 31	Make the adjustment for wages earned for one-half month by secretary-receptionist.

Requirement #3: Prepare journal entries for the adjustments for July and post to the ledger.

Requirement #4: Prepare an adjusted trial balance for July 31, 2019.