Journalize and post closing entries and complete the closing process. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.)

prepare a post closing trial balance

At June 30, 2022, the end of its most recent fiscal year, Pronghorn Computer Consultants post-closing trial balance was as follows:

		Debit		Credit
Cash		$5,130
Accounts receivable		1,180
Supplies		680
Accounts payable				$390
Unearned service revenue				1,100
Common stock				3,500
Retained earnings				2,000
		$6,990		$6,990

The company underwent a major expansion in July. New staff was hired and more financing was obtained. Pronghorn conducted the following transactions during July 2022, and adjusts its accounts monthly.

July	1		Purchased equipment, paying $4,400 cash and signing a 2-year note payable for $19,600. 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 19,600 shares of common stock for $49,000 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 $3,900 per month.
	6		Paid $3,700 for supplies.
	9		Visited client offices and agreed on the terms of a consulting project. Pronghorn will bill the client, Connor Productions, on the 20th of each month for services performed.
	10		Collected $1,180 cash on account from Milani Brothers. This client was billed in June when Pronghorn performed the service.
	13		Performed services for Fitzgerald Enterprises. This client paid $1,100 in advance last month. All services relating to this payment are now completed.
	14		Paid $390 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 $11,800 cash in advance for future services to be performed.
	18		Paid semi-monthly salaries for $10,800.
	20		Performed services worth $27,400 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 $9,800 of revenue from the cash advance received July 16.
	27		Received $14,700 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, $10,800, to be paid on August 1.
7.		Estimated utilities expense for July, $780 (invoice will be received in August).
8.		Income tax for July, $1,180, will be paid in August.