Mike Greenberg opened Bramble Window Washing Inc. on July 1, 2017. During July, the following transactions were completed.

July 1		Issued 14,900 shares of common stock for $14,900 cash.
1		Purchased used truck for $9,920, paying $2,480 cash and the balance on account.
3		Purchased cleaning supplies for $1,120 on account.
5		Paid $2,280 cash on a 1-year insurance policy effective July 1.
12		Billed customers $4,590 for cleaning services performed.
18		Paid $1,240 cash on amount owed on truck and $620 on amount owed on cleaning supplies.
20		Paid $2,480 cash for employee salaries.
21		Collected $1,980 cash from customers billed on July 12.
25		Billed customers $3,100 for cleaning services performed.
31		Paid $360 for maintenance of the truck during month.
31		Declared and paid $740 cash dividend.

The chart of accounts for Bramble Window Washing contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated DepreciationEquipment, Accounts Payable, Salaries and Wages Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Insurance Expense, and Salaries and Wages Expense.

1. Journalize the July transactions.

2. Post to the ledger accounts.

3. Prepare a trial balance at July 31.

4.

Journalize the following adjustments.

(1)		Services performed but unbilled and uncollected at July 31 were $2,110.
(2)		Depreciation on equipment for the month was $220.
(3)		One-twelfth of the insurance expired.
(4)		A count shows $400 of cleaning supplies on hand at July 31.
(5)		Accrued but unpaid employee salaries were $500.

5.

Post adjusting entries to the T-accounts.

Cash
7/1	14,900	7/1	2,480
7/21	1,980	7/5	2,280
		7/18	1,860
		7/20	2,480
		7/31	360
		7/31	740
7/31 Bal.	6,680

6. Prepare an adjusted trial balance.

7. Prepare the income statement for July.

8. Prepare a retained earnings statement for July. (List items that increase retained earnings first.)

9. Prepare a classified balance sheet at July 31. (List Current Assets in order of liquidity.)

10. Journalize and post closing entries and complete the closing process.