Sandhill Clark opened Sandhill's Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 Sandhill invested $19,900 cash in the business. 1 Purchased used truck for $9,100, paying $4,200 cash and the balance on account. 3 Purchased cleaning supplies for $2,300 on account. 5 Paid $1,800 cash on a 1-year insurance policy effective July 1. 12 Billed customers $4,600 for cleaning services. 18 Paid $1.600 cash on amount owed on truck and $1,400 on amount owed on cleaning supplies. 20 Paid $2,600 cash for employee salaries. 21 Collected $3,400 cash from customers billed on July 12. 25 31 31 33 Billed customers $6,000 for cleaning services. Paid $360 for the monthly gasoline bill for the truck. Withdraw $5,700 cash for personal use. Journalize the July transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order displayed in the problem. If no entry is required, select "No Entry" for the account titles and enter for the amounts) Date Account Titles and Explanation (To record cash invested in business) (To record truck purchased) Debit Credit (To record gasoline expense). (To record drawings) Prepare a trial balance at July 31 on a worksheet. Enter the following adjustments on the worksheet and complete the worksheet. (1) Unbilled and uncollected revenue for services performed at July 31 were $2,800. (2) Depreciation on equipment for the month was $600. (3) (4) 35 (5) One-twelfth of the insurance expired. An inventory count shows $600 of cleaning supplies on hand at July 31. Accrued but unpaid employee salaries were $1,010. Account Titles Dr. Cr. Dr. Cash Accounts Receivable Supplies Prepaid Insurance: Equipment Accounts Payable" Owner's Capital Owner's Drawings Service Revenue Gasoline Expense Salaries and Wages Expense Totals Depreciation Expense Accum Depr-Equipment Insurance Expense Supplies Expere Salaries and Wages Payable Total Net Income Prepare the income statement for July. (Enter negative amounts using either a negative sign preceding the number -45 or parentheses eg (451) SANDHILL'S CLEANING SERVICE Income Statement. Prepare the owner's equity statement for July. (List items that increase owner's equity first.) SANDHILL'S CLEANING SERVICE Owner's Equity Statement $ $ Assets. Liabilities and Owner's Equity Journalize adjusting entries. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation (To record revenue earned) (To record depreciation) (To record insurance expired) (To record supplies used) (To record salaries payable) Debit Credit Post adjusting entries. (Post entries in the order of journal entries posted above.) Cash Date Explanation Debit Credit July 1 19.900 July 1 July 5 July 18 No. 101 Balance 19.900 4,200 15,700 1,800 13,900 3,000 10,900 July 201 July 21 July 31 July 31 2,600 8,300 3,400 11,700 360 11.340 5,700 5,640 Accounts Receivable No. 112 Date Explanation July 14 July 21 July 25 July 21 Adjusting 10600 6,000 3400 13000 Supplies Date Explanation Debit Credit No. 126 Balance July 3 2,300 May 31 Adjusting 2300 2,300 2300 Prepaid Insurance No. 130 Date Explanation Debit Credit Balance July 5 1,800 1.800 July 31 Adjusting 1800 1800 Debit Credit 4,600 Balance 4,600 3.400 1,200 7.200 Date Explanation July 1 Equipment No. 157 Debit Credit Balance 9.100 9.100 Accumulated Depreciation-Equipment Date Explanation Debit No. 158 Credit Balance July 31 Adjusting Accounts Payable No. 2011 Date Explanation Debit Credit Balance July 1 4,900 4,900 July 3 2.300 7.200 July 18 3.000 4,200 Salaries and Wages Payable No. 212 Debit Credit Balance Date Explanation My 31 Adjusting Owner's Capital No. 301 Date Explanation Debit Credit Balance July 11 19,900 19,900 Owner's Drawings Date Explanation Debit Credit July 31 5,700 Service Revenue Date Explanation Debit July 14 July 25 Adjusting Credit 4600 6,000 10600 No. 306 Balance 5.700 No. 400 Balance 4,600 10.600 15200 Date Explanation July 31 Gasoline Expense No. 633 Debit Credit Balance 360 360 Supplies Expense No. 631 Debit Credit Balance Date Explanation July 31 Adjusting Depreciation Expense No. 711 Date Explanation Debit Credit Balance July 31 Adjusting Insurance Expense No. 722 Date Explanation Debit Credit Balance July 31 Adjusting Salaries and Wages Expense No. 726 Debit Credit Balance 2,600 2,600 Date Explanation July 201 July 31 v Adjusting 2600 2600 Journalize closing entries and complete the closing process. (Credit account titles are automatically indented when amount is entered Do not indent manually. Record journal entries in the order displayed in the problem) Date Account Titles and Explanation (To close revenue account) (To close expense accounts) (To dose net income/(loss)) (To close drawings) Debit Credit Post closing entries. (Post entries in the order of journal entries posted above.) Cash Date Explanation Debit Credit July 1 19,900 July 1 July 5 July 18 July 20 July 21 July 31 July 311 No. 101 Balance 19,900 4.200 15,700 1.800 13,900 3,000 10.900 2,600 8,300 3,400 11.700 360 11,340 5,700 5,640 Accounts Receivable No. 112 Date Explanation July 12 July 21 3.400 July 25 6,000 July 31 Adjusting 2.800 Supplies Date Explanation Debit Credit July 3 2.300 July 31 Adjusting 1,700 Prepaid Insurance Date Explanation Debit Credit July 5 1,800 My31 Adjusting 150 Debit Credit 4,600 Balance 4,600 1,200 7,200 10,000 No. 126 Balance 2,300 Balance 600 No. 130 1.000 1.650 Equipment Date Explanation Debit Credit July 1 9,100 No. 157 Balance 9,100 Accumulated Depreciation-Equipment No. 158 Date Explanation Debit Credit Balance July 31 Adjusting 600 600 Accounts Payable No. 201 Date Explanation Debit Credit Balance July 1 4,900 4,900 July 31 2.300 7,200 July 18 3,000 4,200 Salaries and Wages Payable No. 212 Date Explanation Debit Credit Balance July 31 Adjusting 1.010 1,010 Owner's Capital No. 301 Date Explanation Debit Credit Balance July 1 19.900 19,900 19900 19900 July 31 Closing July 31 Closing Owner's Drawings Date Explanation Debit Credit July 31 5,700 July 31 Closing 5700 Income Summary Date Explanation Debit July 31 Closing 19900 19900 No. 306 Balance 5,700 5700 No. 350 Credit Balance Date Explanation July 31 Closing July 31 Closing Income Suminary Debit Credit Balance Judy 31 Closing Service Revenue No. 400 Date: Explanation Debit Credit Balance July 12 4600 July 25 6,000 July 31 Adjusting 2,800 4,600 10.600 13,400 July 31 Closing 13400 28600 Gasoline Expense No. 633 Date Explanation Debit Credit Balance July 31 360 360 Closing Supplies Expense No. 631 Date Explanation Debit Credit Balance July 31 1.700 1.700 Closing 1700 1700 Depreciation Expense No. 711 Date Explanation Debit Credit Balance July 31 Adjusting 600 600 July 21 Closing 400 400 Date Explanation July 31 Adjusting July 31 Closing Insurance Expense No. 722 Debit Credit Balance 150 150 150 150 Salaries and Wages Expense No. 726 Date July 20 Explanation July 31 Adjusting July 31 Closing 3600 Debit Credit Balance 2,600 2,600 1,010 3,610 6210 Accounts Payable Cash Accounts Receivable Supplies Prepaid lesurance Equipment SANDHILL'S CLEANING SERVICE Post-Closing Trial Balance July 31, 2022 Debit Credit 10000 Accumulated Depreciation-Equipment 500 Salaries and Wages Payable 2600 Owner's Capital Totals 4200 19900 2300 1800 4900 11900