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Sarah Hatfield opened Ocean Cleaning service on July 1, 2019. During July, the company completed the following transactions : July 1 Owner Sarah Hatfield invested

Sarah Hatfield opened Ocean Cleaning service on July 1, 2019. During July, the company completed the following transactions : July 1 Owner Sarah Hatfield invested $38,560 cash and $7,480 of cleaning equipment in the business. July 1 Purchased a used truck for $10,000, paying $2,300 cash and the balance on account. July 3 Purchased cleaning supplies for $1,874 on account. July 5 Paid $1,200 on a one-year insurance policy, effective July 1. July 12 Billed Customers $6,583 for cleaning services. July 18 Paid $1,200 of amount owed on truck. July 19 Paid $375 of amount owed for cleaning supplies. July 20 Paid $895 for employee salaries. July 21 Collected $4,632 from customers billed on July 12. July 25 Billed customers $8,215 for cleaning services. July 31 Paid gasoline for the month on the truck, $267. July 31 Owner Sarah Hatfield withdrew $1,100 for personal use. Adjustments : July 31 Earned but unbilled fees at July 31 were $3,754. Deprication on truck for the month was $225. One-twelfth of the insurance expired. An inventory count shows $450 of cleaning supplies on hand at July 31. Accrued but unpaid employee salaries were $195. Instructions : required (a) Journalize and post the July transactions. (General Journal) required (b) Prepare a trial balance at July 31 required (c) Journalize and post the adjusting entries. required (e) Prepare the income Statement and Statement of Owners Equity for July. required (f) Prepare a classified Balance Sheet at July 31, 2019. required (g) Journalize and post the closing entries. required (h) Prepare a post-closing trial balance at July 31.

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