Kristin Malone opened Kristins Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions.

July	1		Stockholders invested $17,000 cash in the business in exchange for common stock.
	1		Purchased a used truck for $10,000, paying $3,100 cash and the balance on account.
	3		Purchased cleaning supplies for $800 on account.
	5		Paid $2,352 on a 1-year insurance policy, effective July 1.
	12		Billed customers $3,900 for cleaning services.
	18		Paid $1,300 of amount owed on truck, and $200 of amount owed on cleaning supplies.
	20		Paid $1,600 for employee salaries.
	21		Collected $1,500 from customers billed on July 12.
	25		Billed customers $1,500 for cleaning services.
	31		Paid gasoline for the month on the truck, $200.
	31		Declared and paid a $600 cash dividend.

The chart of accounts for Kristins Maids 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.

1. Journalize the July transactions.

2. Post the July transactions.

3. (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 fees for services performed at July 31 were $1,300.
		(2)		Depreciation on equipment for the month was $300.
		(3)		One-twelfth of the insurance expired.
		(4)		An inventory count shows $200 of cleaning supplies on hand at July 31.
		(5)		Accrued but unpaid employee salaries were $500.

4. Prepare the income statement for July 31, 2017.

5. Prepare the retained earnings statement for July 31, 2017.

6. Prepare a classified balance sheet at July 31, 2017.

7. Journalize the adjusting entries.

8. Post the adjusting entries.

9. Journalize the closing entries.

10. Post the closing entries and complete the closing process.

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