The trial balance of Capaldo Dry Cleaners on June 30 is given here.

The July transactions were as follows.
July 8 Received $5,189 in cash on June 30 accounts receivable.
9 Paid employee salaries $2,100.
11 Received $6,100 in cash for services provided.
14 Paid creditors $10,750 of accounts payable.
17 Purchased supplies on account $720.
22 Billed customers for services provided $4,700.
30 Paid employee salaries $3,114, utilities $1,767, and repairs $492.
31 Paid $400 cash dividend.

Instructions
(a) Prepare a general ledger using T accounts. Enter the opening balances in the ledger accounts as of July 1. Provision should be made for the following additional accounts: Dividends, Dry Cleaning Revenue, Repair Expense, Salaries Expense, and Utilities Expense.
(b) Journalize the transactions, including explanations.
(c) Post to the ledger accounts.
(d) Prepare a trial balance on July 31,2010.

Transcribed Image Text:

CAPALDO DRY CLEANERS Trial Balance June 30, 2010 Credit Cash Accounts Receivable Supplies Equipment Accounts Payable Unearned Revenue Common Stock Debit $12,532 10,536 3,512 25,950 $15,800 1,730 35,000 $52,530 $52,530