PSX (10 1. 2) AP Lee Chang opened Lee's Window Washing on July 1, 2021. In July, the following transactions were completed: Complete all steps in the accounting eyele. 1 July Invested $20,000 cash in the business Purchased a sed truck for $25,000, paying $5,000 cash and signing a note payable for the balance Paid $2.800 on a one-year insurance policy, effective July 1. 5 Billed customers $3.300 for cleaning services 12 Purchased supplies for $2.100 on account. 18 Pald $3.000 for employee salaries 25 Billed customers $8.900 for cleaning wervices 28 Collected $3.300 from customers billed on July 31 Paid $550 for repairs on the truck 31 Withdrew $2,600 cash for personal use. Instructions a. Journalise and post the July transactions to the general ledger b. Prepare a trial balance at July 31. c. Journalise and post the following July 31 adjustments: 1. Services of $1 so were provided but remained unbilled and collected at July 31. 2. The truck has an estimated useful life of five years. 3. One twelfth of the insurance expired. 4. An inventory count shows $700 of supplies on hand at July 31, 5. Accrued but unpaid employee salaries were $800 6. The note payable has a 55 annual interest rate d. Prepare an adjusted trial balance e. Prepare the income statement and statement of owner's equity for July, and a classified balance sheet at July 31, 2001 of the note payable $5.000 ms be paid by June 30, 2018 6. Journalize and post the closing entries 3. Prepare a post-closing trial balance at July 31 Taking It Further Docompanies need to make adjusting and closing entries at the end of every month