The following are the balances in the accounts for Joan Miller Advertising Agency as of July 31

	Debit	Credit
Cash	9140
Accounts Receivable	5000
Art Supplies	1300
Office Supplies	600
Prepaid Rent	800
Prepaid Insurance	880
Art Equipment	4200
Accumulated Depreciation--Art eq		70
Office Equipment	3000
Accumulated Depreciation--Office eq		50
Accounts Payable		3240
Unearned Art Fees		600
Wages Payable		360
Joan Miller, Captial credit-20,600

During the month of August, the agency engaged in the following transactions:

Aug. 1 Received an additional investment of cash from Joan Miller, $6,300.Aug 2 Purchased additional office equipment with cash, $1200.

Aug. 5 Received art equipment transferred to the business from Joan Miller, $1,400.

Aug. 6 Purchased additional office supplies with cash, $90

Aug. 7 Purchased additional art supplies on credit from Taylor Supply Company, $450.

Aug. 8 Completed the series of advertisements for Marsh Tire Company that began on July, and billed Marsh Tire Company for the total services performed, including the accrued revenues that had been recognized in January of $200 (see accounts receivable). The total bill is $800.

Aug. 9 Paid the secretary for two weeks' wages, $1200.

Aug. 12 Paid the amount due to Morgan Equipment for the office equipment purchased last month $1,500

Aug. 13 Accepted an advance fee in cash for artwork to be done for another agency, $1,600. Aug. 14 Purchased a copier from Morgan Equipment for $2,100, paying $350 in cash and agreeing to pay the rest in equal payments over the next five months.

Aug. 15 Performed advertising services and accepted a cash fee, $1,450.

Aug. 16 Received payment on account from Ward Department Stores for services performed last month, $2,800.

Aug. 19 Paid amount due for the telephone bill that was received and recorded at the end of July , $140.

Aug. 20 Performed advertising services for Ward Department Stores and agreed to accept payment next month, $3,200.

Aug. 21 Performed art services for a cash fee, $580.

Aug. 22 Received and paid the utility bill for August, $220.

Aug 23. Paid the secretary for two weeks' wages, $1200.

Aug. 26 Paid the rent for Sept in advance, $800.

Aug. 27 Received the telephone bill for February, which is to be paid next month, $160.

Aug. 30 Paid out cash to Joan Miller as a withdrawal for personal living expenses, $1,400.

At the end of Augusr, adjustments are made for the following:

a. One month's prepaid rent has expired.$800

b. One month's prepaid insurance has expired, $80.

c. An inventory of art supplies reveals $600 of supplies are still on hand on aug 31.

d. An inventory of office supplies reveals $410 in office supplies are still on hand on aug 31

e. Depreciation on the Art equipment for aug is calculated to be $100.

f. Depreciation on the Office equipment for aug is calculated to be $100.

g. Art services performed for which payment has been received in advance total $1,300

h. Advertising services performed that will not be billed until spe total $290.

i. Three days' worth of secretarial wages had accrued by the end of aug ( assume a five day week).

Question 9) Preapre a post closing trial balance