Blossom Clark opened Blossom's Cleaning Service on July 1, 2022. During July, the following transactions were...

 

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Blossom Clark opened Blossom's Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 1 3 5 12 18 20 21 25 31 31 Blossom invested $20,000 cash in the business. Purchased used truck for $9,000, paying $4,000 cash and the balance on account. Purchased cleaning supplies for $1,900 on account. Paid $1,800 cash on a 1-year insurance policy effective July 1. Billed customers $4,500 for cleaning services. Paid $1,400 cash on amount owed on truck and $1,300 on amount owed on cleaning supplies. Paid $2,400 cash for employee salaries. Collected $3,500 cash from customers billed on July 12. Billed customers $6,000 for cleaning services. Paid $340 for the monthly gasoline bill for the truck. Withdraw $5,700 cash for personal use. Journalize the July transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order displayed in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation (To record cash invested in business) Debit Credit Blossom Clark opened Blossom's Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 1 3 5 12 18 20 21 25 31 31 Blossom invested $20,000 cash in the business. Purchased used truck for $9,000, paying $4,000 cash and the balance on account. Purchased cleaning supplies for $1,900 on account. Paid $1,800 cash on a 1-year insurance policy effective July 1. Billed customers $4,500 for cleaning services. Paid $1,400 cash on amount owed on truck and $1,300 on amount owed on cleaning supplies. Paid $2,400 cash for employee salaries. Collected $3,500 cash from customers billed on July 12. Billed customers $6,000 for cleaning services. Paid $340 for the monthly gasoline bill for the truck. Withdraw $5,700 cash for personal use. Journalize the July transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order displayed in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation (To record cash invested in business) Debit Credit

Answer rating: 100% (QA)

July 1 Cash 20000 Owners Equity 20000 July 1 Truck 9000 Cash 4000 Accounts Payable 5000 Date Account ... View the full answer