Question: Problem 4 . 5 a - g Sunland Clark opened Sunland s Cleaning Service on July 1 , 2 0 2 2 . During July,

Problem 4.5 a-g
Sunland Clark opened Sunlands Cleaning Service on July 1,2022. During July, the following transactions were completed.
1-Jul Sunland invested $20,100 cash in the business.
1 Purchased used truck for $9,100, paying $3,800 cash and the balance on account.
3 Purchased cleaning supplies for $1,900 on account.
5 Paid $1,920 cash on a 1-year insurance policy effective July 1.
12 Billed customers $4,600 for cleaning services.
18 Paid $1,600 cash on amount owed on truck and $1,400 on amount owed on cleaning supplies.
20 Paid $2,600 cash for employee salaries.
21 Collected $3,300 cash from customers billed on July 12.
25 Billed customers $6,100 for cleaning services.
31 Paid $350 for the monthly gasoline bill for the truck.
31 Withdraw $5,700 cash for personal use.
(a1)
Journalize the July transactions.
(a2)
Post the July transactions.
(b) and (c)
Prepare a trial balance at July 31 on a worksheet. Enter the following adjustments on the worksheet and complete the worksheet.
-1 Unbilled and uncollected revenue for services performed at July 31 were $2,800.
-2 Depreciation on equipment for the month was $600.
-3 One-twelfth of the insurance expired.
-4 An inventory count shows $600 of cleaning supplies on hand at July 31.
-5 Accrued but unpaid employee salaries were $1,000.
(d1)
Prepare the income statement for July.
(d2)
Prepare the owners equity statement for July.
(d3)
Prepare a classified balance sheet at July 31.
(e1)
Journalize adjusting entries.
(e2)
Post adjusting entries.
(f1)
Journalize closing entries and complete the closing process.
(f2)
Post closing entries.
(g)
Prepare a post-closing trial balance at July 31.

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