Lori Callebaut opened Callebaut Cleaning Service Company on July 1, 2017. During July the following transactions were completed. July 1 Shareholders invested $20,000 cash in the business in exchange for ordinary shares. 1 Purchased used truck for $12,000, paying $4,000 cash and issued a 3-month 12% notes payable for the balance, with all interests and the balance to be settled on maturity 3 Purchased cleaning supplies for $2,100 on account. 4 Received $64,000 cash from a customer, Fat Choi Ltd in advance for the cleaning service of 8-month-period from 1 July 2017 to 28 February 2018. 5 Paid $3,600 cash on one-year insurance policy effective July 1. 12 Billed customers $5,900 for cleaning services performed. 18 Paid $1,400 on amount owed on cleaning supplies. 20 Paid $4,500 cash for employee salaries. 21 Collected $4,400 cash from customers billed on July 12. 25 Billed customers $9,400 for cleaning services performed. 31 Paid $400 for the monthly gasoline bill for the truck. 31 Declared and paid a $1,200 cash dividend. The chart of accounts for Callebaut 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. 213 Interest payabnle, No. 214 Income Tax Payable, No. 221 Unearned Service Revenue, No. 231 Notes Payable, No. 311 Share CapitalOrdinary, No. 320 Retained Earnings, No. 332 Dividends, No. 350 Income Summary, No. 400 Service Revenue, No. 633 Gasoline Expense, No. 631 Supplies Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, No. 726 Salaries and Wages Expense, No. 727 Interest Expense and No. 728 Income tax expense. Instructions (a) Journalize the July transactions. (b) Prepare a trial balance at July 31. (c) Journalize adjusting entries with the following information and prepare the adjusted trial balance at July 31: (1) Services performed but unbilled and uncollected at July 31 were $3,300. (2) Equipment worth $12,000 has a useful life of 20 years, to be depreciated using straight line method. (3) Record the insurance expired for the month of July. (4) A supplies count shows $560 of cleaning supplies on hand at July 31. (5) Accrued but unpaid employee salaries were $2,200. (6) One month of cleaning service provided to Fat Choi Ltd. The service is evenly provided over the 8 months. (7) Record the interest expense for the note payable issued on 1 July. (8) The companys CPA estimates that income taxes expense for July is $1,500. (d) Prepare the income statement and retained earnings statement for July and a statement of financial position at July 31.