Your answer is correct. Journalize the July transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit July 1 Cash 9100 Common Stock 9100 July 1 Equipment 6080 Accounts Payable 4560 Cash 1520 July 3 Supplies 680 Accounts Payable 680 July 5 Prepaid Insurance 1320 Cash 1320 July 12 Accounts Receivable 2810 Service Revenue 2810 July 18 Accounts Payable 1140 Cash 1140 July 20 Salaries and Wages Expense 1520 Cash 1520 July 21 Cash 1220 Accounts Receivable 1220 July 25 Accounts Receivable 1900 Service Revenue 1900 July 31 Maintenance and Repairs Expense 220 Cash 220 July 31 Dividends 460 Cash 460 Cash 7/1 9100 7/1 1520 7/21 1220 7/5 1320 7/18 1140 JI 7/20 1520 7/31 220 7/31 460 7/31 Bal. Accounts Receivable 7/12 2810 7/21 1220 7/25 1900 7/31 Bal. Supplies 7/3 680 7/31 Bal. 680 Prepaid Insurance 7/5 1320 7/31 Bal. 1320 Equipment 7/1 6080 7/31 Bal. 6080 Accounts Payable 7/18 1140 7/1 4560 7/3 680 7/31 Bal. Common Stock 7/1 9100 7/31 Bal. 9100 Dividends 7/31 460 7/31 Bal. 460 Service Revenue 7/12 2810 7/25 1900 7/31 Bal. 4710 Maintenance and Repairs Expense 7/31 220 7/31 Bal. 220 Prepare a trial balance at July 31. BLUE WINDOW WASHING INC. Trial Balance July 31, 2022 Debit Credit Cash $ Accounts Receivable Supplies 680 Prepaid Insurance 1320 Equipment 6080 Accounts Payable Common Stock 9100 Dividends 460 Service Revenue 4710 Salaries and Wages Expense 1520 Maintenance and Repairs Expense 220 Totals $ $ ( (1) Services performed but unbilled and uncollected at July 31 were $1,290. Depreciation on equipment for the month was $140. (2) (3) One-twelfth of the insurance expired. (4) A count shows $240 of cleaning supplies on hand at July 31. (5) Accrued but unpaid employee salaries were $300. Date Account Titles and Explanation Debit Credit July 31 Accounts Receivable 1290 Service Revenue 1290 July 31 Depreciation Expense 140 Accumulated Depreciation-Equipment 140 July 31 Insurance Expense 110 Prepaid Insurance 110 July 31 Supplies Expense 440 Supplies 440 July 31 Salaries and Wages Expense 300 Salaries and Wages Payable 300 Post adjusting entries to the T-accounts. Cash 7/1 9,100 7/1 1,520 7/21 1,220 7/5 1,320 7/18 1,140 7/20 1,520 7/31 220 7/31 460 7/31 Bal. 4,140 Accounts Receivable 7/12 2,810 7/21 1,220 7/25 1,900 7/31 1290 IN 7/31 Bal. 4780 C Supplies 7/3 680 7/31 440 7/31 Bal. 240 Prepaid Insurance 7/5 1,320 7/31 Bal. 7/31 Bal. Equipment 7/1 6,080 7/31 Bal. 6,080 Accumulated Depreciation-Equipment 7/31 Bal. 7/31 Bal. Accounts Payable 7/18 1,140 7/1 4,560 7/3 680 7/31 Bal. 4,100 Salaries and Wages Payable 7/31 Bal. 7/31 Bal. Common Stock 7/1 9,100 7/31 Bal. 9,100 Dividends 7/31 460 Service Revenue 7/12 2,810 7/25 1,900 7/31 1290 7/31 Bal. 7/31 Bal. Maintenance and Repairs Expense 7/31 220 Supplies Expense 7/31 7/31 Bal. Depreciation Expense 7/31 7/31 Bal. Insurance Expense 7/31 110 7/31 Bal. 110 Salaries and Wages Expense 7/20 1,520 i 7/31 7/31 Bal. Prepare an adjusted trial balance. BLUE WINDOW WASHING INC. Trial Balance July 31, 2022 Debit Credit cash 4140 Accounts Receivable 4780 Supplies 440 Prepaid Insurance Equipment 6080 Accumulated Depreciation-Equipment 140 Accounts Payable Salaries and Wages Payable Common Stock 9100 Dividends Service Revenue Maintenance and Repairs Expense Supplies Expense 440 Depreciation Expense 140 Insurance Expense 110 Salaries and Wages Expense Totals $ Prepare the income statement for July. BLUE WINDOW WASHING INC. Income Statement For the Month Ended July 31, 2022 Revenues Service Revenue Expenses Maintenance and Repairs Expense $ Supplies Expense 440 Depreciation Expense 140 i Insurance Expense 110 i Salaries and Wages Expense Total Expenses Net Income /(Loss) $ $ Prepare a retained earnings statement for July. (List items that increase retained earnings fi BLUE WINDOW WASHING INC. Retained Earnings Statement For the Month Ended July 31, 2022 Retained Earnings, July 1 Add : Net Income /(Loss) Less Dividends Retained Earnings, July 31 $ BLUE WINDOW WASHING INC. Balance Sheet July 31, 2022 Assets Current Assets Cash $ 4140 Accounts Receivable 4780 Supplies 440 Prepaid Insurance Total Current Assets $ $ Property, Plant and Equipment Equipment 6080 Less Accumulated Depreciation Equipment Total Assets $ $ Total Assets $ Liabilities and Stockholders' Equity Current Liabilities Accounts Payable $ Salaries and Wages Payable Total Current Liabilities $ Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ Date Account Titles and Explanation Debit Credit July 31 Service Revenue Income Summary (To close revenue account) July 31 Income Summary Maintenance and Repairs Expense Supplies Expense Depreciation Expense Insurance Expense Salaries and Wages Expense (To close expense accounts) July 31 Income Summary Retained Earnings (To close net income to retained earnings) July 31 Retained Earnings July 31 Retained Earnings Dividends (To close dividends to retained earnings) Cash 7/1 9,100 7/1 1,520 7/21 1,220 7/5 1,320 7/18 1,140 7/20 1,520 7/31 220 7/31 460 7/31 Bal. 4,140 Accounts Receivable 7/12 2,810 7/21 1,220 7/25 1,900 7/31 1,290 7/31 Bal. 4,780 Supplies 7/3 680 7/31 440 7/31 Bal. 240 Prepaid Insurance 7/5 1,320 7/31 110 7/31 Bal. 1,210 Equipment 7/1 6,080 7/31 Bal. 6,080 Accumulated Depreciation-Equipment 7/31 140 7/31 Bal. 140 Accounts Payable 7/18 1,140 7/1 4,560 7/3 680 7/31 Bal. 4,100 Salaries and Wages Payable 7/31 300 7/31 Bal. 300 Common Stock 7/1 9,100 7/31 Bal. 9,100 Retained Earnings 7/31 .. Dividends 7/31 460 7/31 7/31 Bal. Income Summary 7/31 7/31 7/31 7/31 Bal. Service Revenue 7/31 7/12 2,810 7/25 1,900 7/31 1,290 7/31 Bal. Maintenance and Repairs Expense 7/31 220 7/31 7/31 Bal. Supplies Expense 7/31 440 7/31 7/31 Bal. Depreciation Expense 7/31 140 7/31 7/31 Bal. 7/31 140 7/31 7/31 Bal. Insurance Expense 7/31 110 7/31 7/31 Bal. Salaries and Wages Expense 7/20 1,520 7/31 7/31 300 7/31 Bal. Prepare a post-closing trial balance at July 31. BLUE WINDOW WASHING INC. Post-Closing Trial Balance July 31, 2022 Debit Credit Cash $ $ $ Accounts Payable Supplies 440 Prepaid Insurance Equipment Accumulated Depreciation-Equipment 140 Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings $ $