P4-5A Lee Chang opened Lee's Window Washing on July 1, 20 completed: July 2017. In July, the following transactions were signing a note payable for the balance. ce policy, effective July 1. 1 Invested $20,000 cash in the business, 1 Purchased a used truck for $25,000, paying $5.00 1 Paid $2,800 on a one-year insurance policy, effective 5 Billed customers $3.300 for cleaning services. 12 Purchased supplies for $2,100 on account. Paid $3,000 for employee salaries. Billed customers 58,900 for cleaning services. 28 Collected $3,300 from customers billed on July 5. 31 Paid $550 for fuel for the month on the truck. 31 Withdrew $2,600 cash for personal use. 18 25 Instructions (a) Journalize and post the July transactions to the general ledger (b) Prepare a trial balance at July 31. (c) Journalize and post the following July 31 adjustments: 1. Earned but unbilled fees at July 31 were $1,500. 2. The truck has an estimated useful life of five years. 3. One twelfth of the insurance expired. 4. An inventory count shows $700 of supplies on hand at July 31. 5. Accrued but unpaid employee salaries were $800. 6. The note payable has a 5.5% annual interest rate. (d) Prepare an adjusted trial balance. (e) Prepare the income statement and statement of owner's equity for July, and a classified balance sheet at July 31, 2017. Of the note payable, $5,000 must be paid by June 30, 2018 (f) Journalize and post the closing entries. (g) Prepare a post-closing trial balance at July 31