OPTIONS:

The CCBC Corporation had the following opening trial balance at the beginning of its fiscal year, July 1, 2018: Credit Debit $ 7,300 6,550 1,300 13,800 Cash Accounts receivable Supplies Equipment Accumulated depreciation-equipment Unearned revenue Common shares Retained earnings Totals $ 5,000 2,650 6,000 15,300 $28,950 $28,950 During the month of July, the following selected transactions took place: July 2 Paid $1,500 for two months' rent in advance for July and August. 7 Purchased $200 of supplies on account. 14 Collected half of outstanding accounts receivable. 15 Borrowed $1,000 from the bank for one year at an interest rate of 5%. 21 Received $1,000 cash from a customer for services to be performed in August. 28 Performed $1,500 of services to a customer on account. Additional information: 1. At July 31, the company had performed $800 of services for a client that it had not billed or recorded. 2. Refer to the July 2 transaction where rent was paid in advance and adjust, if required. 3. Supplies on hand at July 31 were $500. 4. The equipment has a five-year useful life and uses straight-line depreciation. 5. Interest is due on the bank loan on the first day of each following month, beginning August 1. 6. As at July 31, the company owed $2,500 of salaries to its employees for the month just ended. 7. As at July 31, the company had earned $2,000 of revenue that had been paid in advance. Date Account Titles and Explanation Debit Credit Date July 2 July 7 July 14 July 15 July 21 July 28