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please write clear, thanks. Anya Clark opened Anya's Cleaning Service on July I, 2020. During July, the following transactions were completed. July I Shareholders invested
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Anya Clark opened Anya's Cleaning Service on July I, 2020. During July, the following transactions were completed. July I Shareholders invested 20,000 cash in the business in exchange for ordinary shares. 1 Purchased used truck for 12,000, paying 4,000 cash and the balance on account 3 Purchased cleaning supplies for 2,100 on account. 5 Paid 1,800 cash on a 1-year insurance policy effective July 1 . 12 Billed customers 4,500 for cleaning services: 18 Paid 1,500 cash on amount owed on truck and 1,400 on amount owed on cleaning supplies. 20 Paid 2,800 cash for employee salaries. 21 Collected 3,400 cash from customers billed on July 12 25 Billed customers 6,000 for cleaning services. 31 Paid 350 for the monthly gasoline bill for the truck. 31 Declared and paid a 65,600 cash dividend. The chart of accounts for Anya's Cleaning Service contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated Depreciation-Equipment, No. 201 Accounts Payable, No. 212 Salaries and Wages Payable, No. 311 Share Capital-Ordinary, No. 320 Retained Earnings, No. 332 Dividends, No. 350 Income Summary, No. 400 Service Revenue, No. 631 Supplies Expense, No. 633 Gasoline Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries and Wages Expense. Instructions a. Journalize and post the July transactions. Use page JI for the journal and the three-column form of account. b. Prepare a trial balance at July 31 on a worksheet. c. Enter the following adjustments on the worksheet and complete the worksheet. 1. Unbilled and uncollected revenue for services performed at July 31 were 2,700. 2. Depreciation on equipment for the month was 500. 3. One-twelfth of the insurance expired. 4. An inventory count shows 600 of cleaning supplies on hand at July 31 . 5. Accrued but unpaid employee salaries were 1,000. d. Prepare the income statement and a retained earnings statement for July and a classified statement of financial position at July 31 . e. Journalize and post adjusting entries. Use page J2 for the journal. f. Journalize and post-closing entries and complete the closing process. Use page J3 for the journal. g. Prepare a post-closing trial balance at July 31 Step by Step Solution
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