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. Journalize the July transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record cash invested in the business) (To record purchase of truck.) (To record maintenance of the truck) Activate Windows (To record owner withdraws) Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.) Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Owner's Capital Activate Windows > > > RCES Salaries and Wages Expense he on) LINK TO TEXT LINK TO TEXТ LINK TO ТЕХT cudy Prepare a trial balance at July 31. BRIDGEPORT WINDOW WASHING CO. Trial Balance Debit Credit Totals LINK TO TEXT LINK TO ТЕХТ LINK TO TEXT 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. Journalize the July transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record cash invested in the business) (To record purchase of truck.) (To record maintenance of the truck) Activate Windows (To record owner withdraws) Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.) Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Owner's Capital Activate Windows > > > RCES Salaries and Wages Expense he on) LINK TO TEXT LINK TO TEXТ LINK TO ТЕХT cudy Prepare a trial balance at July 31. BRIDGEPORT WINDOW WASHING CO. Trial Balance Debit Credit Totals LINK TO TEXT LINK TO ТЕХТ LINK TO TEXT
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Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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