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1 1 5 Lee Chang opened Crane's Window Washing on July 1, 2021. In July, the following transactions were completed: July 1 Inwested $28,000 cash

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1 1 5 Lee Chang opened Crane's Window Washing on July 1, 2021. In July, the following transactions were completed: July 1 Inwested $28,000 cash in the business. Purchased a used truck for $25,200, paying $5.200 cash and signing a note payable for the balance. Paid $2,800 on a one-year insurance policy, effective July 1 Billed customers $3.500 for cleaning services. Purchased supplies for $2,070 on account. Paid $3,000 for employee salaries. Billed customers $9.700 for cleaning services, Collected $3,500 from customers billed on July 5. Paid $550 for repairs on the truck. Withdrew $2.000 cash for personal use. 12 18 25 28 31 31 Journalize and post the July transactions to the general ledger. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Record Joumal 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) Activate W Go to Setti (To record payment of insurance) > Activate w Co to Setti Cash Date Explanation Ref. Debit Credit Balance July 1 J1 1 J1 1 J1 18 31 28 31 31 31 J1 Activate Win Go to Setti Accounts Receivable Debit Credit Date Explanation Ref. Balance Date Explanation Ref. Accounts Receivable Debit Credit Balance July 5 31 25 J1 28 J1 Supplies Date Explanation Rel. Debit Credit Balance July 12 J1 Prepaid Insurance Debit Date Explanation Ref. Credit Balance July 1 31 Vehides Debit Credit Balance Date Explanation Ref. July 1 31 Activate Wind Go to Settings To Vehicles Date Explanation Ref. Debit Credit Balance July 1 J1 Accounts Payable Debit Credit Balance Date Explanation Ref. July 12 31 Notes Payable Debit Credit Balance Date Explanation Ref. July 1 J1 L. Chang, Capital Debit Credit Balance Date Explanation Ref. July 1 J1 L. Chang, Drawings Debit Date Explanation Ref. Credit Balance July 31 11 Activate Windows Go to Settings to Service Revenue L. Limy capital Debit Credit Balance Date Explanation Ref. July 1 J1 L. Chang, Drawings Debit Date Explanation Ref. Credit Balance July 31 J1 Service Revenue Debit Date Explanation Rel. Credit Balance July 5 J1 25 J1 Repairs Expense Debit Credit Balance Date Explanation Ref. July 31 31 Salaries Expense Debit Date Explanation Ref. Credit Balance Activate Wir Go to Settings July 18 J1 Prepare a trial balance at July 31. CRANE'S WINDOW WASHING Trial Balance Debit Credit $ Activate Go to Set Prepare the income statement for July CRANE'S WINDOW WASHING Income Statement Activate Wind So to Setting to Prepare the statement of owner's equity for July (List Items that increase owner's equity first. Round answers to decimal places, eg. 5,276.) CRANE'S WINDOW WASHING Statement of Owner's Equity Activate Win Go to Setting Prepare a classified balance sheet at July 31, 2021. Of the note payable $5,000 must be paid by July 30,2022. (List Current Assets in order of liquidity. Round answers to O decimal places, eg. 5,276) CRANE'S WINDOW WASHING Balance Sheet Assets > > > Activate Wil Go to Setti Question 4 of 4 725 il Liabilities and Owner's Equity > $ > Activate w Co to Setti Cash Date Explanation Ref. Debit Credit Balance July 1 J1 1 J1 1 J1 18 31 28 31 31 31 J1 Activate Win Go to Setti Accounts Receivable Debit Credit Date Explanation Ref. Balance Date Explanation Ref. Accounts Receivable Debit Credit Balance July 5 31 25 J1 28 J1 Supplies Date Explanation Rel. Debit Credit Balance July 12 J1 Prepaid Insurance Debit Date Explanation Ref. Credit Balance July 1 31 Vehides Debit Credit Balance Date Explanation Ref. July 1 31 Activate Wind Go to Settings To Vehicles Date Explanation Ref. Debit Credit Balance July 1 J1 Accounts Payable Debit Credit Balance Date Explanation Ref. July 12 31 Notes Payable Debit Credit Balance Date Explanation Ref. July 1 J1 L. Chang, Capital Debit Credit Balance Date Explanation Ref. July 1 J1 L. Chang, Drawings Debit Date Explanation Ref. Credit Balance July 31 11 Activate Windows Go to Settings to Service Revenue L. Limy capital Debit Credit Balance Date Explanation Ref. July 1 J1 L. Chang, Drawings Debit Date Explanation Ref. Credit Balance July 31 J1 Service Revenue Debit Date Explanation Rel. Credit Balance July 5 J1 25 J1 Repairs Expense Debit Credit Balance Date Explanation Ref. July 31 31 Salaries Expense Debit Date Explanation Ref. Credit Balance Activate Wir Go to Settings July 18 J1 Prepare a trial balance at July 31. CRANE'S WINDOW WASHING Trial Balance Debit Credit $ Activate Go to Set Prepare the income statement for July CRANE'S WINDOW WASHING Income Statement Activate Wind So to Setting to Prepare the statement of owner's equity for July (List Items that increase owner's equity first. Round answers to decimal places, eg. 5,276.) CRANE'S WINDOW WASHING Statement of Owner's Equity Activate Win Go to Setting Prepare a classified balance sheet at July 31, 2021. Of the note payable $5,000 must be paid by July 30,2022. (List Current Assets in order of liquidity. Round answers to O decimal places, eg. 5,276) CRANE'S WINDOW WASHING Balance Sheet Assets > > > Activate Wil Go to Setti Question 4 of 4 725 il Liabilities and Owner's Equity > $

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