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At June 30, 2017, the end of its most recent fiscal year, Riverbed Computer Consultants' post-closing trial balance was as follows: Debit Credit $5,330 1,220 700 Cash Accounts recelvable Supplies Accounts payable Unearned service revenue Common stock $410 1,140 3,700 2,000 Retained earmnings75o $7,20 $7,250 The company underwent a major expansion in July. New staff was hired and more fnancing was obtained, Riverbed conducted the following transactions during July 2017, and adjusts its acc monthly July 1 P chased euipment, paying *3,600 cash and sig ing a 2-year note payable for 20 40 . The equipment has a 4-year useful te me note has a 6% interest at which is payable first day of each following month. issued 20,400 shares of commin stock for $51,000 cash. 3 Paid $3,600 cash for a 12-morth insurance policy effective July 1 3 Paid the first 2 (uly and August 2017) months' rent for an annual lease of office space for $4,100 per month. 6 Paid $3,900 for supplies 9 Visited dlient offices and agreed on the terms of a consulting project. Riverbed will bill the client, Connor Productions, on the 20th of each month for services performed. 10 Collected $1,220 cash on account from Milani Brothers. This client was billed in June when Riverbed performed the service 13 Performed services for Fitzgerald Enterprises. This client paid $1,140 in advance last month. All services relating to this payment are now completed 14 Paid $410 cash for a utility bill. This related to June ubilties that were accrued at the end of June 16 Met with a new clent, Thunder Bay Technologies. Received $12,200 cash in advance for future services to be performed 18 Paid semi-monthly salaries for $11,200. 20 Performed services worth $28,600 on account and bitled customers 20 Received a bill for $2,200 for advertising services received duning July. The amount is not due until August is 23 Performed the first phase of the project for Thunder Bay Technologies. Recognized $10,200 of revenue from the cash advance received July 16 27 Received $15,300 cash from customers billed on July 20

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