The trial balance of Sterling Dry Cleaners on June 30 is given here:

The July transactions were as follows:
July 8 Collected \(\$ 4,936\) in cash on June 30 accounts receivable.
9 Paid employee salaries, \(\$ 2,100\).
11 Received \(\$ 4,325\) in cash for services rendered.
14 Paid June 30 creditors \(\$ 10,750\) on account.
17 Purchased supplies on account, \(\$ 554\).
22 Billed customers for services rendered, \(\$ 4,700\)
30 Paid employee salaries \(\$ 3,114\), utilities \(\$ 1,384\), and repairs \(\$ 692\).
31 Paid \(\$ 700\) cash dividend.
\section*{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.

(c) Post to the ledger accounts.
Joumalize transactions, post, and prepare a trial balance.
Joumalize transactions, post, and prepare a trial balance.
(SO 3, 5, 7, 8)

(d) Prepare a trial balance on July 31, 1998

Transcribed Image Text:

STERLING DRY CLEANERS Trial Balance June 30, 1998 Debit Credit Cash $12,532 Accounts Receivable 10,536 Supplies 4,844 Equipment 25,950 Accounts Payable $15,878 Unearned Revenue 1,730 Common Stock 36,254 $53,862 $53,862