Record the following transactions for Apple Inc. for the month of July 2024 and prepare the trial balance as of July 31, 2024:

• July 1: Received $300,000 in cash from the issuance of common stock.
• July 5: Purchased equipment worth $150,000 on credit.
• July 10: Sold merchandise for $200,000 in cash.
• July 15: Paid $50,000 in cash for operating expenses.
• July 20: Received $100,000 in cash from customers on account.
• July 25: Paid $80,000 in cash for salaries.
• July 31: Paid $20,000 in cash for utilities.