Required:

Based on the adjustment information tisted below, journalize the adjusting entries below.

GO BACK TO THE ORIGINAL T$-$ACCOUNTS $($Please answer both$)$

Note: Consider completing #$2$ in a different pencil color.

Post the adjusting entries to the T$-$accounts.

Calculate the adjusted balance of each account and label it "BaL."

Prepared the Adjusted Trial Balance as of July $31,2024.$

Hint: Total Debits $=$$$582,750,$ rotal Crecits $=$$$582,750$

a$.$ Remaining beauty supplies inventory equals $$15,000$ at Jul $31$

b$.$ One month of the prepaid insurance expired

c$.$ During Jul, the business provided $$1,000$ of services to customers who paid in advance on Jul $5.$

d$.$ During Jul, the business provided services to a wedding party, for which payment will be received in Feb, $$2,000.$

e$.$ The Building has a $25-$yr useful life and no salvage value. Record one$-$month's depreciation.

f$.$ The Furniture has a $5-$yr useful life and no salvage value. Record one$-$month's depreciation.

g$.$ The Equipment has a $5-$yr useful life and no salvage value. Record one$-$month's depreciation.

h$.$ Unpaid wages for Jul $29-$ Jul $31$ amount to $$5,500$

Requireu.

Based on the adjusted trial balance, journalize the necessary closing entries below.

GO BACK TO THE ORIGINAL T$-$ACCOUNTS

Post the closing entries to the T$-$accounts.

Calculate the final balance of each account and label it "Bal."

Prepared the Post$-$CloseTrial Balance as of July $31,2024.$

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