Question: please help me i need the journal entry, GL assets, GL Liab-Equity, GL Rev-Exp, Trial Bal, IS & SEquity, Balsht, and Post close TB. Thank

please help me i need the journal entry, GL assets, GL Liab-Equity, GL Rev-Exp, Trial Bal, IS & SEquity, Balsht, and Post close TB. Thank you !  please help me i need the journal entry, GL assets, GL
Liab-Equity, GL Rev-Exp, Trial Bal, IS & SEquity, Balsht, and Post close

Lenny's Lawn Service, Inc. Transactions - Additional Information July 2021 Transactions July 1 Date Description of the Transaction Borrow $35,000.00 from 1st Bank by signing a 24 month note. (As an example of how to journal and post a transaction - this traction has ready been entered Into the General Journal and posted to the General Indigo) July 1 Receive $69,300.00 cash from new investors, and issue $69,300.00 of Common Stock to them. July 1 Purchase $45,900.00 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 $5,185.00 for a completed mowing job - customer will pay in 10 days. July 5 The Board of Directors declares a 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. 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 $5,185.00 on account. The cash that is received is from the new customer for the job Directions AGL Assets GL Lab-Equity Trans Chart Accts Journal + Ready 125% MacBook Air Lenny's Lawn Service, Inc. Transactions - Additional Information July 2021 Transactions July 1 Date Description of the Transaction Borrow $35,000.00 from 1st Bank by signing a 24 month note. (As an example of how to journal and post a transaction this traction has already been ordered Into the General Journal and posted to the General ledger). July 1 Receive $69,300.00 cash from new investors, and issue $69,300.00 of Common Stock to them. July 1 Purchase $45,900.00 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 $5,185.00 for a completed mowing job - customer will pay in 10 days. July 5 The Board of Directors declares a 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 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 $5,185.00 on account. The cash that is received is from the new customer for the job Directions Journal AGL Assets GL Lab-Equity e Ready OD Trans Chart Accts + 125% MacBook Air

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!