The trial balance of Kinnear 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 $7,320 in cash for services provided.14 Paid creditors $9,810 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 $386.31 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, Service Revenue, Maintenance and Repairs Expense, Salaries and Wages Expense, and Utilities Expense.(b) Journalize the transactions, including explanations.(c) Post to the ledger accounts.(d) Prepare a trial balance on July 31,2012.

Transcribed Image Text:

KINNEAR DRY CLEANERS Trial Balance June 30, 2012 Debit Credit Cash $12,532 Accounts Receivable Supplies Equipment Accounts Payable Unearned Service Revenue Common Stock 10,536 3,592 25,950 $15,800 1,810 35,000 $52,610 $52,610