K ditional data Part 1 of 11 Points: 0 of 1 Buono Adventures, which uses the perpetual inventory system, has the following account balances (in alphabetical order) on July 31, 2023 (Click the icon to view the account balances.) Additional data at July 31, 2023 (Click the icon to view the additional data.) Required 1. Record all adjustments and closing entries that would be required on July 31, 2023. 2. Prepare the multi-step income statement and statement of owner's equity for the year ended July 31, 2023, and the classified balance sheet in report format as at July 31, 2023. Requirement 1. Record all adjustments and closing entries that would be required on July 31, 2023. Start with the adjusting entries Create the adjusting journal entry for (a) from the additional data. A physical count of items showed $3,000 of supplies on hand (Hint: Use the account Operating Expens adjusting journal entry) (Record debits first, then credits. Exclude explanations from journal entries.) Date July 31 Journal Entry Accounts Debit Credit Account balances Accounts Payable Accounts Receivable Accumulated Amortization Equipment Cash Cost of Goods Sold E. Buono, Capital $ 21,600 23,200 64,600 8,400 687,000 402,000