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Calculate the depreciation and the supplies expense. July 2017 Transactions Date Description of the Transaction Borrow $35,000.00 from 1st Bank by signing a 24 month
Calculate the depreciation and the supplies expense.
July 2017 Transactions Date Description of the Transaction Borrow $35,000.00 from 1st Bank by signing a 24 month note (As an example of how to journalize into the General Journal and posted to the Ganeral Ledger.) July 1 and post a transaction this transaction has already been entered July 1 Receive $71,700,00 cash from new investors, and issue $71,700.00 of July 1 July 1 Pay $500.00 cash for the July truck rental Purchase $41,100.00 of new mowing equipment, paying cash to the mower dealer ew customer $2.860.00 for a compieted mowing job -customer will pay in 10 days rd of Directors declares a cash dividend. The total amount of the dividend is $28,000.00 The Date of Record is set as July 15. The Date of Payment is set as July 31 July 7 Pay the employees $6,500.00 for work performed during the 1st week of July July 10 Complete a mowing job for a new customer- customer pays $890.00 cash for the job. July 12 Collect $3,500.00 cash from the golf course for speciali rush mowing job completed on May 31 July 14 Pay the employees $5,000.00 for work performed during the 2nd week of July July 15 Purchase $910.00 of supplies from the mower dealer. The supplies are consumed immediatel Lenny's will pay the mower dealer for the supplies in about 2 weeks. July 15 Collect $2,860.00 on account. The cash that is received is from the new customer for the job that was completed on July 3 July 17 One of the original mowers purchased in January of 2016 broke down and is repaired by the mower dealer. The cost of the Mower Repair job is $1,240.00. Lenny's will pay the mower dealer in 30 days July 19 Purchase for cash $31,000.00 of supplies. These supplies will be consumed over the next 12 months. July 20 Collect $30,000.00 from the property management company for work performed in June July 21 Pay the employees $4,850.00 for work performed during the 3rd week of July Receive a $25,250.00 advance payment from the university. The advance payment is for 6 months of work which will be performed from August 1, 2017 to January 31, 2018. July 23 Complete a special mowing job for the golf course. The total price for the mowing job is $6, 150.00 The golf course pays $1,000.00 cash on this date and will pay the remainder on August 25 July 25 July 27 Complete a mowing job for a new customer - customer pays $400.00 cash for the job. July 27 Pay $910.00 cash to the mower dealer for the supplies purchased on account on July 15 Pay the employees $5,600.00 for work performed during the 4th week of July July 31 Invoice the property management company $19,750. 00 for July mowing work. The property management company will pay the invoice on the 20th of next month. Pay the cash dividend which was declared on July 5 July 31
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