This problem involves using a work sheet for Green Hills Riding Stable, Incorporated, for the month ended 2010 July 31, and performing the closing process. The trial balance for Green Hills Riding Stable, Incorporated, as of 2010 July 31, was as follows:

GREEN HILLS RIDING STABLE, INCORPORATED Trial Balance 2010 July 31 Acct.

No. Account Title Debits Credits 100 Cash $ 10,700 103 Accounts Receivable 8,100 130 Land 40,000 140 Buildings 24,000 200 Accounts Payable $ 1,100 201 Notes Payable 40,000 300 Capital Stock 35,000 310 Retained Earnings, 2010 July 1 3,100 320 Dividends 1,000 402 Horse Boarding Fees Revenue 4,500 404 Riding Lesson Fees Revenue 3,600 507 Salaries Expense 1,400 513 Feed Expense 1,100 540 Interest Expense 200 568 Miscellaneous Expense 800

$ 87,300 $87,300 Depreciation expense for the month is USD 200. Accrued salaries on July 31 are USD 300.

a. Prepare a 12-column work sheet for the month ended 2010 July 31.

b. Journalize the adjusting entries.

c. Journalize the closing entries.