Mike Greenberg opened Novak Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. Purchased used truck for $7.520, paying $1,880 cash and the balance on account. July 1 Issued 11,300 shares of common stock for $11,300 cash. 1 3 5 12 12 18 Purchased cleaning supplies for $850 on account. Paid $1,680 cash on a 1-year insurance policy effective July 1. Billed customers $3,480 for cleaning services performed. Paid $940 cash on amount owed on truck and $470 on amount owed on cleaning supplies. Paid $1.880 cash for employee salaries. 20 21 Collected $1,500 cash from customers billed on July 12. 25 31 31 Billed customers $2,350 for cleaning services performed. Paid $270 for maintenance of the truck during month. Declared and paid $560 cash dividend. Journalize and post closing entries and complete the closing process. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.) Date Account Titles and Explanation July 31 Service Revenue July 31 Income Summary (To close revenue account) Income Summary Salaries and Wages Expense Rent Expense Supplies Expense Insurance Expense Utilities Expense Debit Credit July 31 July 31 Salaries and Wages Expense Rent Expense Supplies Expense Insurance Expense Utilities Expense (To close expense accounts) Income Summary Retained Earnings (To close net income to retained earnings) Retained Earnings Dividends (To close dividends to retained earnings)