Daniel Grimm & Tim Turensek opened Clean Window Washing Inc. on July 1, 2015. During July, the following transactions were completed.

July 1	Issued 12,000 shares of common stock for $12,000 cash.
1	Purchased used truck for $8,000, paying $2,000 cash and the balance on account (AP).
3	Purchased cleaning supplies (asset) for $900 on account.
5	Paid $1,800 cash on a 1-year insurance policy effective July 1.
12	Billed customers $3,700 for cleaning services.
18	Paid $1,000 cash on amount owed on truck and $500 on amount owed on cleaning supplies.
20	Paid $2,000 cash for employee salaries. (Salaries and Wages Expense)
21	Collected $1,600 cash from customers billed on July 12.
25	Billed customers $2,500 for cleaning services.
31	Paid $290 for maintenance of the truck during month. (Maintenance and Repairs Expense)
31	Declared and paid $600 cash dividend.

4.

Journalize the following adjustments (adjusting journal entries)

1.

Services performed but unbilled and uncollected at July 31 were $1,700. (Need to bill the client.)

2.

Depreciation on equipment for the month was $180. (Dont need to calculate depreciation, use the amount given.)

3.

One-twelfth of the insurance expired.

4.

An inventory count shows $320 of cleaning supplies on hand at July 31.

5.

Accrued, but unpaid employee salaries were $400. (We need to record the expense and the amount due to the employees.)

7.	Prepare the income statement and a retained earnings statement for July and a classified balance sheet at July 31. (Net Income = $4,300, Total Assets = $21,500)