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Comprehensive Problem ( Problem info and working papers ) Instruction ( g ) . . . Journalize and Post Closing Entries Bob opened Bob s

Comprehensive Problem (Problem info and working papers)Instruction (g)... Journalize and Post Closing Entries
Bob opened Bobs Cleaning Services on July 01,2022. During July the company completed these transactions.
July 01 Bob invested $12,000 cash in the business
02 Purchased used truck for $6,000, paying $3,000 cash and the balance on account.
03 Purchased cleaning supplies for $1,300 on account.
05 Paid $2,400 cash on one-year insurance policy effective July 1.
12 Billed customers for $2,500 for cleaning services.
18 Paid $1,000 of amount owed on truck AND $800 of the amount owed on cleaning supplies.
20 Paid $1,200 for employee salaries.
21 Collected $1,400 from customers previously billed on July 12.
25 Billed customers $7,000 for cleaning services.
30 Paid gasoline for the month on the truck, $200.
31 Declared and paid a $900 cash dividend.
Use this Chart of Accounts: Cash; Account Receivable; Supplies; Prepaid Insurance; Truck; Accumulated Depreciation-Truck; Accounts Payable; Salaries Payable; Common Stock; Retained Earnings; Dividends; Income Summary; Service Revenue; Supplies Expense; Gasoline Expense; Depreciation Expense; Insurance Expense; Salaries Expense.
Instructions:
(c1) Unbilled and uncollected revenues for services performed at July 31 were $1,500.
(c2) Depreciation on the Truck for the month was $300.
(c3) One month (July) of the 1-year insurance policy was used up.
(c4) An inventory count shows that $400 of cleaning supplies remains unused as of July 31.
(g) Journalize AND POST the Closing entries.
(h) Prepare a Post-Closing Trial Balance.
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