New Era Cleaning Service, Inc. opened for business on July 1, 2010. During the month of July, the following transactions occurred:

July 1: Issued $18,000 of common stock for $18,000 cash.

July 1: Purchased a truck for $11,000. Paid $4,000 in cash and borrowed the remainder (long term) from the bank.

July 3: Purchased cleaning supplies for $900 on account.

July 5: Paid $1,800 on a one-year insurance policy, effective July 1.

July 12: Billed customers $4,800 for cleaning services.

July 18: Paid $1,500 of the amount owed on the truck.

July 18: Paid $500 of the amount owed on cleaning services.

July 20: Paid $1,700 for employee salaries.

July 21: Collected $1,200 from customers billed on July 12.

July 25: Billed customers $1,900 for cleaning services.

July 31: Paid gas and oil for the month on the truck, $500.

July 31: Paid a $800 dividend.

I'd like you to explain about adjusting entry, adjusted and trial balance of this question.

WPS Office S Accounting Cyc..nment_Unit_02 2 X + 1 Sign in Go Premium 113 B fx Exit Full Screen A B C D F G H I K L M N O P Q R S T U V W X Z W N Unadjusted Adjusted Account Beginnng Balance Trial Balance Adjusting Entries Trial Balance IOUT Debit Credit Debit Credit Debit Credit Debit Credit Cash 8100 Accounts Receivable 5500 Cleaning Supplies 900 Prepaid Insurance 1650 10 Equipment 11000 11 Accumulated Deprec. 0 12 13 Accounts Payable 400 14 Salaries Payable 15 Bank Loan 5200 16 17 Common Stock 18000 18 Retained Earnings 19 Dividends 800 20 21 Service Revenue 6700 22 Gas & Oil Expense 500 23 Cleaning Supplies Exp 0 24 Depreciation Expense 0 25 Insurance Expense 150 26 Salaries Expense 1700 27 30,300 30,300 28 29 30 31 32 33 34 35 36 37 Cover Instructions General Journal General Ledger - T Accounts TrialBalanceWorksheet Income Statement Balance Sheet +