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THE QUESTION: HOW THE ANSWER SHOULD BE FORMATTED: The T ledger should be fully filled like this: Thank you!!! Current Attempt in Progress At June

THE QUESTION:

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HOW THE ANSWER SHOULD BE FORMATTED:

image text in transcribed

The T ledger should be fully filled like this: image text in transcribed

Thank you!!!

Current Attempt in Progress At June 30, 2022, the end of its most recent fiscal year, Green River Computer Consultants' post-closing trial balance was as follows: The company underwent a major expansion in July. New staff was hired and more financing was obtained. Green River conducted the following transactions during July 2022, and adjusts its accounts monthly. July 1 Purchased equipment, paying $4,000 cash and signing a 2-year note payable for $20,000. The equipment has a 4-year useful life. The note has a 6% interest rate which is payable on the first day of each following month. 2 Issued 20,000 shares of common stock for $50,000 cash. 3 Paid $3,600 cash for a 12-month insurance policy effective July 1. 3 Paid the first 2 (July and August 2022) months' rent for an annual lease of office space for $4,000 per month. 6 Paid $3,800 for supplies. 9 Visited client offices and agreed on the terms of a consulting project. Green River will bill the client, Connor Productions, on the 20th of each month for services performed. 10 Collected $1,200 cash on account from Milani Brothers. This client was billed in June when Green River performed the service. 13 Performed services for Fitzgerald Enterprises. This client paid $1,120 in advance last month. All services relating to this payment are now completed. 14 Paid $400 cash for a utility bill. This related to June utilities that were accrued at the end of June. 16 Met with a new client, Thunder Bay Technologies. Received $12,000 cash in advance for future services to be performed. 18 Paid semi-monthly salaries for $11,000. 20 Performed services worth $28,000 on account and billed customers. 20 Received a bill for $2,200 for advertising services received during July. The amount is not due until August 15. 23 Performed the first phase of the project for Thunder Bay Technologies. Recognized $10,000 of revenue from the cash advance received July 16. 27 Received $15,000 cash from customers billed on July 20. Adjustment data: 1. Adjustment of prepaid insurance. 2. Adjustment of prepaid rent. 3. Supplies used, $1,250. 4. Equipment depreciation, $500 per month. 5. Accrual of interest on note payable. 6. Salaries for the second half of July, $11,000, to be paid on August 1 . 7. Estimated utilities expense for July, $800 (invoice will be received in August). 8. Income tax for July, $1,200, will be paid in August. The chart of accounts for Green River Computer Consultants contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance. Prepaid Rent, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Notes Payable, Interest Payable, Income Taxes Payable, Salaries and Wages Payable, Unearned Service Revenue, Share Capital, Retained Earnings, Dividends, Income Summary, Service Revenue, Supplies Expense, Depreciation Expense, Insurance Expense, Salaries and Wages Expense, Advertising Expense, Income Tax Expense, Interest Expense, Rent Expense, Supplies Expense, and Utilities Expense. (a) Enter the July 1 balances in the ledger accounts. Cash Accounts Receivable Supplies Accounts Payable Unearned Service Revenue Common Stock Retained Earnings E

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