Sunland Clark opened Sunland's Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 1 3 5 12 18 Sunland invested $20,000 cash in the business. Purchased used equipment for $8,900, paying $4,200 cash and the balance on account. Purchased cleaning supplies for $2,000 on account Paid $1,920 cash on a 1-year insurance policy effective July 1. Billed customers $4,400 for cleaning services. Paid $1,600 cashon amount owed on truck and $1.400 on amount owed on cleaning supplies. Paid $2,600 cash for employee salaries. Collected $3,300 cash from customers billed on July 12. Billed customers $5,900 for cleaning services. Paid $340 for monthly utility bill for the equipment (Use Utilities Expense.) Withdraw $5,500 cash for personal use. 20 21 25 31 31 Prepare the income statement for July. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e-8. (45).) SUNLAND'S CLEANING SERVICE Income Statement $ $ + Prepare the owner's equity statement for July. (List items that increase owner's equity first.) SUNLAND'S CLEANING SERVICE Owner's Equity Statement SUNLAND'S CLEANING SERVICE Balance Sheet Assets $ Liabilities and Owner's Equity $ Journalize adjusting entries. (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 Debit Credit (To record depreciation) (To record insurance expired) (To record supplies used) (To record salaries payable) 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 Debit Credit (To close revenue account) (To close expense accounts) (To close net income / (loss)) (To close drawings) Prepare a post-closing trial balance at July 31. SUNLAND'S CLEANING SERVICE Post-Closing Trial Balance Debit Credit Totals $ Prepare a trial balance at July 31 on a worksheet. Enter the following adjustments on the worksheet and complete the worksheet. 1. 2. 3. 4. Depreciation on equipment for the month was $500. One-twelfth of the insurance expired. An inventory count shows $700 of cleaning supplies on hand at July 31. Owed but unpaid employee salaries were $1.010