ME: Exercise 4-7 (Part Level Submission) The CCBC Corporation had the following opening trial balance at the beginning of its fiscal year, July 1, 2018: Debit Credit Cash 5,800 6,700 1,250 14,400 Accounts receivable Supplies Equipment Accumulated depreciation-equipment Unearned revenue Common shares Retained earnings 5,000 2,700 5,000 15,450 $28,150 $28,150 Totals During the month of July, the following selected transactions took place: Paid $1,500 for two months' rent in advance for July and August. 7 Purchased $180 of supplies on account. 14 Collected half of outstanding accounts receivable. 15 Borrowed $1,000 from the bank for one year at an interest rate of 5%. 21 Received $1,000 cash from a customer for services to be performed in August. 28 Performed $1,500 of services to a customer on account. July 2 Additional information: 1. At July 31, the company had performed $800 of services for a client that it had not billed or recorded. 2. Supplies on hand at July 31 were $500. 3. The equipment has a five-year useful life and uses straight-line depreciation. 4. Interest is due on the bank loan on the first day of each following month, beginning August 1. 5. As at July 31, the company owed $2,500 of salaries to its employees for the month just ended. 6. As at July 31, the company had earned $2,000 of revenue that had been paid in advance. (a)