Mike Greenberg opened Bridgeport Window Washing Co. on July 1, 2020. During July, the following transactions...
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Mike Greenberg opened Bridgeport Window Washing Co. on July 1, 2020. During July, the following transactions were completed. July 1 Owner invested $9,600 cash in the company. 1 Purchased used truck for $6,400, paying $1,600 cash and the balance on account. 3 Purchased cleaning supplies for $720 on account. 5 Paid $1,440 cash on a 1-year insurance policy effective July 1. 12 Billed customers $2,960 for cleaning services performed. 18 Paid $800 cash on amount owed on truck and $400 on amount owed on cleaning supplies. 20 Paid $1,600 cash for employee salaries. 21 Collected $1,280 cash from customers billed on July 12. 25 Billed customers $2,000 for cleaning services performed. 31 Paid $230 for maintenance of the truck during month. 31 Owner withdrew $480 cash from the company. Prepaid Insurance Equipment Accounts Payable Owner's Capital Owner's Drawings Service Revenue Maintenance and Repairs Expense Salaries and Wages Expense Mike Greenberg opened Bridgeport Window Washing Co. on July 1, 2020. During July, the following transactions were completed. July 1 Owner invested $9,600 cash in the company. 1 Purchased used truck for $6,400, paying $1,600 cash and the balance on account. 3 Purchased cleaning supplies for $720 on account. 5 Paid $1,440 cash on a 1-year insurance policy effective July 1. 12 Billed customers $2,960 for cleaning services performed. 18 Paid $800 cash on amount owed on truck and $400 on amount owed on cleaning supplies. 20 Paid $1,600 cash for employee salaries. 21 Collected $1,280 cash from customers billed on July 12. 25 Billed customers $2,000 for cleaning services performed. 31 Paid $230 for maintenance of the truck during month. 31 Owner withdrew $480 cash from the company. Prepaid Insurance Equipment Accounts Payable Owner's Capital Owner's Drawings Service Revenue Maintenance and Repairs Expense Salaries and Wages Expense
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Answer rating: 100% (QA)
DR Cash Account CR 1Jul Owners capital 960000 1Jul Equipment 160000 21Jul accounts receivables 12800... View the full answer
Related Book For
Cornerstones of Cost Management
ISBN: 978-1285751788
3rd edition
Authors: Don R. Hansen, Maryanne M. Mowen
Posted Date:
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