on july $12017$ melanie thornhill began her Problem $3-14$B Journalizing, posting, adjusted trial balance, adjusting entries $($monthly$),$ financial statements $($quarterly$)$ L$04,5,6,7$ CHECK FIGURES: $3.$ Cash balance, July $31,2017=$$ $3,400$ ; $4.$ Dr$=$$ $45,820$ ; $6.$ Br$=$$ $50,100$; $7.$ Profit $=$$ $7,550$ On July $1,2017,$ Melanie Thornhill began her third month of operating an electronics repair shop called MT Repairs out of her dad's garage. The following occurred during the third month of operations: July $1$ Collected $ $3,600$ as a deposit for work to be done at the local college in the fall. Melanie Thornhill withdrew $ $4,000$ cash for personal expenses. Paid $ $2,200$ for repair supplies purchased on account last month. Did work for a client and immediately collected $ $1,400.4$ Performed services for a customer and collected $$3,600.7$ Hired a new technician to start next week on a casual basis at $ $400$ per day. $15$ Melanie withdrew cash of $ $1,000$ for personal use. $22$ Purchased repair supplies for cash; $ $1,600.31$ Paid wages of $ $2,800.$ Required $1.$ Prepare general journal entries to record the July transactions. $2.$ Set up the following T$-$accounts with June $30$ adjusted balances: Cash $(101),$ $$6,400$; Repair Supplies $(131),$ $$3,000$; Toofs $(161),$ $ $16,800$; Accumblated Depreciation, Tools $(162),$ $$560$; Accounts Thornhill, Withdrawals $(302),$ $$0$; Revenue $(401),$ $$25,800$; Depreciation Expense, Tools $(602),$ $$560$; Wages Expense $(623),$ $$1,960$; Rent Expense $(640),$ $ $8,000$; and Repair Supplies Expense $(696),$ $ $2,700.3.$ Post the entries to the accounts; calculate the ending balance in each account. $4.$ Prepare an unadjusted trial balance at July $31,2017.5.$ Use the following information to prepare and post adjusting entries for the month of July: a$.$ The tools have an estimated life of five years with no residual value. b$.$ One$-$quarter of the repair supplies balance remained on hand at July $31.$ c$.$ Accrued the July rent expense of $ $4,000$; it will be paid in August. d$.$ $ $3,800$ of the unearned revenues remained unearned as at July $31.$ a Dranam an adiweted trial halance. Hints: As July $31,$ the unadjusted trial balance is $ $45,820,$ the adjusted trial balance is $ $50,100,$ net income is $ $7,550.$ Some data are already recorded in the ledger. Note that the owner's capital is unknown. You have to find it$.$ For that purpose, a June $30^$a adjusted trial balance template is provided.