On July 1, 2020, Louis Litt created a new self-storage business, occurred during the company's first month. July 1 Litt invested $50,000 cash and buildings worth $250,000 in the company. 2 The company rented equipment by paying $2,000 cash for the first month's (July) rent. 5 The company purchased $3,600 of office supplies for cash. 10 The company paid $6,000 cash for the premium on a 12-month insurance policy. Coverage begins July 11. 24 The company collected $10,800 cash for storage fees from customers. 28 The company paid $2,500 cash for four weeks' salary earned by an employee. 30 The company paid $420 cash for this month's telephone bill. 31 Litt withdrew $4,000 cash from the company for personal use. The company's chart of accounts follows: Account Name Acc No. Acc No. Account Name 101 Cash 401 Storage Fees Earned 106 Accounts Receivable 606 124 Office Supplies 622 Depreciation Expense-Buildings Salaries Expenses 128 Prepaid Insurance 637 Insurance Expenses 173 Building 640 Rent Expense 174 Accumulated Depreciation-Building 650 Office Supplies Expense 209 Salaries Payable 688 Telephone Expense 301 L.Litt, Capital 901 Income Summary 302 L.Litt, Withdrawals Require: 1. Prepare Journal entries to record the transactions for July (Template A1) (1.5 marks) 2. Calculate and record an unadjusted trial balance as of July 31 into the related columns of assuming that the journal entries are posted correctly to the respective ledgers. (1.5 mark) 3. Use the following information to journalize (Template A3) and post adjusting entries for th Adjustments columns (Template A2): (1.5 marks) a. Two-thirds of one month's insurance coverage has expired. b. At the end of the month, $1,725 of office supplies are still available. c. This month's depreciation on the buildings is $1,500. d. An employee earned $250 of unpaid and unrecorded salary as of month-end