1 3 Mike Greenberg opened Pina Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. July 1 Issued 11,500 shares of common stock for $11,500 cash. Purchased used truck for $7,680, paying $1.920 cash and the balance on account Purchased cleaning supplies for $860 on account 5 Paid $1,680 cash on a 1-year insurance policy effective July 1. Billed customers $3,550 for cleaning services performed. Paid $960 cash on amount owed on truck and $480 on amount owed on cleaning supplies. 20 Paid $1,920 cash for employee salaries. Collected $1,540 cash from customers billed on July 12. 25 Billed customers $2,400 for cleaning services performed. Paid $280 for maintenance of the truck during month. Declared and paid $580 cash dividend. 12 18 21 31 31 The chart of accounts for Pina Window Washing contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Salaries and Wages Payable, Common Stock, Retained Earnings Dividends. Income Summary Service Revente Maintenance and Rani RASA Supplies FRANSA Question 4 of 4 You can on amount owed on truck and >400 on amount owed on cleaning supplies. Paid $1,920 cash for employee salaries. Collected $1,540 cash from customers billed on July 12. Billed customers $2,400 for cleaning services performed. Paid $280 for maintenance of the truck during month. Declared and paid $580 cash dividend. 31 31 The chart of accounts for Pina Window Washing contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Salaries and Wages Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Insurance Expense, and Salaries and Wages Expense. (h) Journalize and post closing entries and complete the closing process. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount) Date Account Titles and Explanation Debit Credit July 31 (To close revenue account) July 31 (To close revenue account) July 31 (To close expense accounts) July 31 (To close net income to retained earnings) Question 4 of 4 0.81 / 1 (TULIUS THOTE WENGU CY) July 31 (To close dividends to retained earnings) Cash 7/1 7/21 1.920 1,680 1.440 11.500 7/1 1,540 775 7/18 7/20 7/31 7/31 5,220 1.920 280 580 7/31 Bal Accounts Receivable 1.540 Accounts Receivable 7/12 7/25 7/31 3,550 7/21 2.400 1.630 6,040 7/31 Bal. Supplies 7/3 7/31 Bal. 860 7/31 550 310 Prepaid Insurance 7/5 7/31 Bal. 140 1,680 7/31 1,540 Equipment 7/1 7.680 7/21 Ral 7.490 Equipment 7/1 7/31 Bal. 7,680 7.680 Accumulated Depreciation Equipment 7/31 7/31 Bal. 170 170 Accounts Payable 7/18 1,440 7/1 7/3 7/31 Bal. 5,760 860 5,180 Salaries and Wages Payable 7/31 380 7/31 Bal. 380 Question 4 of 4 0.81 / 1 7/31 Bal. 380 Common Stock 7/1 7/31 Bal. 11,500 11,500 Retained Earnings Dividends 7/31 580 Income Summary Income Summary Service Revenue 7/12 3,550 7/25 2,400 7/31 1,630 Maintenance and Repairs Expense Maintenance and Repairs Expense 7/31 280 Supplies Expense 7/31 550 Depreciation Expense 7/31 170 Insurance Expense Insurance Expense 7/31 140 Salaries and Wages Expense 7/20 1,920 7/31 380 e Textbook and Media List of Accounts