Solid Footing - Accounting Cycle Project

The credit should be equal to the debit for the trial balance but it isn't. Can you guys point out where I got it wrong ?

Date Description of the Transaction July 1 Borrow $35,000.00 from 1st Bank by signing a 24 month note. (As an example of how to journalize and post a transaction -- this transaction has already been entered into the General Journal and posted to the General Ledger.) July 1 Receive $68,700.00 cash from new investors, and issue $68,700.00 of Common Stock to them. July 1 Purchase $44,700.00 of new mowing equipment, paying cash to the mower dealer. July 1 Pay $500.00 cash for the July truck rental. July 3 Invoice a new customer $5,130.00 for a completed mowing job -- customer will pay in 10 days. July 5 The Board of Directors declares cash dividend. The total amount of the dividend is $25,000.00 The Date of Record is set as July 15. The Date of Payment is set as July 31. July 7 Pay the employees $5,800.00 for work performed during the 1st week of July. July 10 Complete a mowing job for a new customer -- customer pays $4,200.00 cash for the job. July 12 Collect $3,500.00 cash from the golf course for special rush mowing job completed on May 31. July 14 Pay the employees $7,000.00 for work performed during the 2nd week of July. OOO July 15 Purchase $1,020.00 of supplies from the mower dealer. The supplies are consumed immediately. Lenny's will pay the mower dealer for the supplies in about 2 weeks. July 15 Collect $5,130.00 on account. The cash that is received is from the new customer for the job that was completed on July 3. July 17 One of the original mowers purchased in January of 2020 broke down and is repaired by the mower dealer. The cost of the Mower Repair job is $575.00. Lenny's will pay the mower dealer in 30 days. July 19 Purchase for cash $22,750.00 of supplies. These supplies will be consumed over the next 12 months. July 20 Collect $30,000.00 from the property management company for work performed in June. July 21 Pay the employees $7,100.00 for work performed during the 3rd week of July. July 23 Receive a $23,750.00 advance payment from the university. The advance payment is for 6 months of work which will be performed from August 1, 2021 to January 31, 2022. July 25 Complete a special mowing job for the golf course. The total price for the mowing job is $5,350.00. The golf course pays $500.00 cash on this date and will pay the remainder on August 25. July 27 Complete a mowing job for a new customer -- customer pays $3,900.00 cash for the job. July 27 Pay $1,020.00 cash to the mower dealer for the supplies purchased on account on July 15. July 28 Pay the employees $6,100.00 for work performed during the 4th week of July. July 31 Invoice the property management company $19,900.00 for July mowing work. The property management company will pay the invoice on the 20th of next month. July 31 Pay the cash dividend which was declared on July 5. Additional Information Equipment: The $48,000.00 beginning balance in the Equipment account relates to the mowing equipment which was purchased on January 2, 2020. For information related to this mowing equipment see Page 70 in the Solid Footing text (PDF 07 - Intro to Adjusting Entries). This equipment continues to be used and should be depreciated for the month of July. The following information relates to the new equipment which was purchased on July 1, 2021: The new equipment was placed into service on July 1, 2021 and should be depreciated for the month of July. The estimated useful life of the new equipment is 5 years. At the end of 5 years, the new equipment will have no future value and will be scrapped. The new equipment will be depreciated using the straight-line method. Supplies: At the end of July there are $24,000.00 supplies on-hand. Mowing Service at the University: The monthly mowing service was provided to the university per the contract signed on April 1, 2021. For information on the contract with the university and the related advance payment, see Pages 95 and 98 in the Solid Footing text (PDF 08 - Adjusting Entries Continued). Wages Due the Employees: The last wage payment was made to the employees on July 28, 2021. The employees worked on July 29, 30, and 31. For these three days of work the employees earned $3,525.00 of wages. These three days of wages will be paid to the workers during the first week of August. Bank Loan: The interest on the loan from 1st Bank will be paid every three months. The first interest payment to the bank will be made on September 30, 2021. Lenny's calls the bank on July 31 and the bank indicates that the interest on the loan for July is $960.00. Directions A Trans Chart Accts Journal AGL Assets AGL Liab-Equity GL Rev Ha Nguyen Lenny's Lawn Service, Inc. - General Journal Page # 1 Account Name Posted Debit Credit 2021 Month-Day 7-1 Account Number 100 35,000.00 Cash Notes Payable Borrowed on Note Payable 250 35,000.00 7-1 68,700.00 100 300 Cash Common Stock Issued Common Stock 68,700.00 7-1 44,700.00 150 100 Equipment Cash Purchase Equipment for Cash 44,700.00 7-1 500.00 515 100 Truck Rental Expense Cash Pay Cash for July Truck Rental 500.00 7-3 105 400 5,130.00 Accounts Receivable Service Revenue Invoice Customer for Complete Mowing Jo X 5,130.00 7-5 X 25,000.00 305 220 Retained Earnings Dividends Payable Board of Directors Declare Cash Dividend 25,000.00 7-7 510 5,800.00 100 Wages Expense Cash Pay Wages for First Week of July 5,800.00 7-10 4,200.00 100 400 Cash Service Revenue Customer Pays Cash for Job X X 4,200.00 7-12 100 105 X > 3,500.00 Cash Accounts Receivable Collect Cash for Job Completed in May 3,500.00 Lenny's Lawn Service, Inc. - General Journal Page # 2 Posted Credit 2021 Month-Day 7-14 Account Number 510 100 Account Name Wages Expense Cash Pay Wages for Second Week of July Debit 7,000.00 7,000.00 7-15 500 1,020.00 Supplies Expense Accounts Payable Purchase Supplies on Account 200 1,020.00 7-15 100 5,130.00 Cash Accounts Receivable Collect Cash for Job completed on July 3rd 105 5,130.00 7-17 505 575.00 Mower Repair Expense Accounts Payable Repair Mower on Account 200 575.00 7-19 110 22,750.00 Supplies Cash Purchase Supplies for Cash 100 22,750.00 7-20 30,000.00 100 105 Cash Accounts Receivable Collect Cash for Work in June 30,000.00 - Journal AGL Assets AGL Liab-Equity AGL Rev-Exp Trial Bal IS & SEquity A Bals! + 7-20 100 Cash 30,000.00 105 30,000.00 Accounts Receivable Collect Cash for Work in June 7-21 7,100.00 510 100 Wages Expense Cash Pay Wages for Third Week of July 7,100.00 7-23 23,750.00 100 215 Cash Unearned Revenue Received Cash for Advance Payment 23,750.00 7-25 100 105 400 500.00 4,850.00 Cash Accounts Receivable Service Revenue Collect Cash and on Account for Job 5,350.00 Lenny's Lawn Service, Inc. - General Journal Page # 3 Posted Debit Credit 2021 Month-Day 7-27 Account Number 100 400 Account Name Cash Service Revenue Receive Cash for Job 3,900.00 X X 3,900.00 7-27 200 1,020.00 Accounts Payable Cash Cash for Supplies Purchased on Account 100 1,020.00 7-28 6,100.00 510 100 Wages Expense Cash Pay Wages for Fourth Week of July 6,100.00 7-31 105 X 19,900.00 400 Accounts Receivable Service Revenue Invoice for Work Done in July 19,900.00 7-31 25,000.00 220 100 Dividends Payable Cash Pay Cash for Dividend 25,000.00 7-31 1,745.00 520 155 Depreciation Expense Accumulated Depreciation Equipment Depreciation for July 1,745.00 7-31 3,125.00 500 110 Supplies Expense Supplies Supplies Used in July 3,125.00 7-31 215 8,000.00 Unearned Revenue Service Revenue Monthly Payment for Contract from April 400 8,000.00 7-31 3,525.00 510 205 Wages Expense Wages Payable Wages for Last Three Days of July 3,525.00 Lenny's Lawn Service, Inc. - General Journal Page # 4 Posted Debit Credit 2021 Month-Day 7-31 Account Number 550 Account Name Interest Expense Interest Payable Interest for Loan 960.00 210 960.00 Journal GL Assets AGL Liab-Equity GL Rev-Exp Trial Bal IS & SEquity A Bals! + Ha Nguyen Lenny's Lawn Service, Inc. - General Ledger CAUTIO Enter amounts into typing in the amour Do NOT copy cells Journal into the acc Account # 100 Cash Journal Page # Debit Credit Balance 2021 Month-Day 7-1 Beginning Balance 7-1 1 38,250.00 35,000.00 68,700.00 7-1 1 7-1 1 1 44,700.00 500.00 5,800.00 1 7-1 7-7 7-10 7-12 7-14 7-15 1 1 4,200.00 3,500.00 7,000.00 5,130.00 2 2 2 2 38,250.00 Dr 73,250.00 Dr 141,950.00 Dr 97,250.00 Dr 96,750.00 Dr 90,950.00 Dr 95,150.00 Dr 98,650.00 Dr 91,650.00 Dr 96,780.00 Dr 74,030.00 Dr 104,030.00 Dr 96,930.00 Dr 120,680.00 Dr 121,180.00 Dr 125,080.00 Dr 124,060.00 Dr 117,960.00 Dr 92,960.00 Dr 7-19 22,750.00 30,000.00 2 7,100.00 2 7-20 7-21 7-23 7-25 7-27 7-27 2 23,750.00 500.00 3,900.00 3 3 7-28 3 3 1,020.00 6,100.00 25,000.00 7-31 Account # 105 Accounts Receivable Journal Page # Debit Credit Balance Beginning Balance 33,500.00 5,130.00 1 2021 Month-Day 7-1 7-3 7-12 7-15 7-20 7-25 7-31 1 2 3,500.00 5,130.00 30,000.00 33,500.00 Dr 38,630.00 Dr 35,130.00 Dr 30,000.00 Dr 0.00 Dr 4,850.00 Dr 24,750.00 Dr 2 2 4,850.00 19,900.00 3 Account # 110 Supplies Journal Page # Credit 2021 Month-Day 7-1 Balance Beginning Balance Debit 4,375.00 22,750.00 2 7-19 7-31 4,375.00 Dr 27,125.00 Dr 24,000.00 Dr 3 3,125.00 Account # 150 Equipment Journal Page # Debit Credit 2021 Month-Day 7-1 Balance Beginning Balance 48,000.00 44,700.00 48,000.00 Dr 92,700.00 Dr 7-1 1 Account # 155 Accumulated Depreciation Journal Page # Debit Credit 2021 Month-Day 7-1 Balance Beginning Balance 18,000.00 1,745.00 18,000.00 Cr 19,745.00 Cr 7-31 3 Journal AGL Assets AGL Liab-Equity GL Rev-Exp Trial Bal AIS & SEquity Bals + Ha Nguyen Lenny's Lawn Service, Inc. - General Ledger CAUTION Enter amounts into the accounts by typing in the amounts. Account # 200 Accounts Payable Do NOT copy cells from the General Journal into the accounts. Journal Page 8 Debit Credit 2021 Month-Day 7-1 Balance Beginning Balance 7-15 7-17 7-27 2 2 0.00 1,020.00 575.00 0.00 Cr 1.020.00 Cr 1,595.00 Cr 575.00 Cr 3 1,020.00 Account # 205 Wages Payable Journal Page # Debit Credit Balance 2021 Month-Day 7-1 7-31 Beginning Balance 0.00 3,525.00 0.001 Cr 3,525.00 Cr 3 Account # 210 Interest Payable Journal Page 8 Debit Credit Balance 2021 Month-Day 7-1 7-31 Beginning Balance 0.00 960.00 0.00 Cr 960.00 Cr 4 Account # 215 Unearned Revenue Journal Page # Debit Credit 2021 Month-Day 7-1 Balance Beginning Balance 8.000.00 23,750.00 7-23 2 3 8,000.00 Cr 31,750.00 C 23,750.00 Cr 7-31 8,000.00 Account # 220 Dividends Payable Journal Page Debit Credit 2021 Month-Day 7-1 Balance Beginning Balance 0.00 25,000.00 7-5 1 0.00 Cr 25,000.00 Cr 0.00 Cr 7-31 3 25,000.00 Account # 250 Note Payable 2021 Month-Day Journal Page Debit Credit Balance Beginning Balance 7-1 7-1 0.00 35,000.00 0.00 Cr 35,000.00 C 1 Account # 300 Common Stock Journal Page Debit Credit 2021 Month-Day 7-1 Balance Beginning Balance 50,000.00 68,700.00 50,000.00 Cr 118,700.00 cm 7-1 1 Account # 305 Retained Earnings Journal Page Debit Credit Balance Beginning Balance 48, 125.00 2021 Month-Day 7-1 7-5 7-31 7-31 7-31 48, 125.00 Cr 23, 125.00 C 1 25,000.00 4 4 4 Journal GL Assets GL Liab-Equity AGL Rev-Exp Trial Bal AIS & SEquity A Bals + Ha Nguyen Lenny's Lawn Service, Inc. - General Ledger CAUTION Enter amounts into the accounts by typing in the amounts. Do NOT copy cells from the General Journal into the accounts. Account # 400 Service Revenue Journal Page 8 Debit Balance Beginning Balance Credit 0.00 5,130.00 1 4,200.00 2021 Month-Day 7-1 7-3 7-10 7-25 7-27 7-31 7-31 7-31 1 2 2 0.00 Cr 5,130.00 Cr 930.00 Cr 6,280.00 Cr 10.180.00 Cr 30.080.00 Cr 38,080.00 Cr 5,350.00 3,900.00 19,900.00 8,000.00 3 3 3 4 Account # 500 Supplies Expense Journal Page # Debit Credit Balance Beginning Balance 2021 Month-Day 7-1 7-15 7-31 7-31 2 3 4 0.00 1,020.00 3,125.00 0.00 Dr 1.020.00 Dr 4,145.00 DO Account # 505 Mower Repair Expense Journal Page # Debit Credit Balance 2021 Month-Day 7-1 7-17 7-31 Beginning Balance 0.00 575.00 0.00 Dr 575.00 Dr 2 4 Account # 510 Wages Expense Journal Page # Debit Credit Balance Beginning Balance 1 2021 Month-Day 7-1 7-7 7-14 7-21 7-28 7-31 7-31 2 2 0.00 5,800.00 7,000.00 7,100.00 6,100.00 3,525.00 0.00 Dr 5.800.00 Dr 12,800.00 Dr 19,900.00 Dr 26,000.00 Dr 29,525.00 DE 3 3 4 Account # 515 Truck Rental Expense Journal Page # Debit Credit Balance 2021 Month-Day Beginning Balance 7-1 7-31 7-1 0.00 500.00 0.00 Dr 500.00 Dr 1 1 4 Account # 520 Depreciation Expense 2021 Month-Day Journal Page Debit Credit Balance 7-1 Beginning Balance 0.00 1,745.00 0.00 Dr 1,745.00 Dr 3 7-31 7-31 4 Account # 550 Interest Expense Journal Page # Debit Credit Balance 2021 Month-Day 7-1 7-31 7-31 Beginning Balance 0.00 960.00 0.00 Dr 960.00 Dr 4 4 Journal GL Assets AGL Liab-Equity GL Rev-Exp Trial Bal IS & SEquity Balsi + 4a17 Ha Nguyen Lenny's - July 31, 2021 Pre-Closing Trial Balance Account # Debit Credit CAUTION Enter amounts into the Pre-Closing Trial Balanc typing in the amounts. 100 105 92,960.00 24,750.00 24,000.00 92,700.00 Do NOT copy cells from the General Ledger. 110 150 155 200 205 210 215 Account Name Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Wages Payable Interest Payable Unearned Revenue Dividends Payable Note Payable Common Stock Retained Earnings Service Revenue Supplies Expense Mower Repair Expense Wages Expense Truck Rental Expense Depreciation Expense Interest Expense Totals 19,745.00 575.00 3,525.00 960.00 23,750.00 0.00 35,000.00 118,700.00 23,125.00 38,080.00 220 250 300 305 400 500 505 510 515 520 550 4,145.00 575.00 29,525.00 500.00 1,745.00 960.00 271,860.00 263,460.00 Journal AGL Assets AGL Liab-Equity AGL Rev-Exp Trial Bal IS & SEquity A Bals +