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Current Attempt in Progress Jaden Li opened Martinez Window Washing Co. on July 1, 2020. During July, the following transactions were completed. July 1
Current Attempt in Progress Jaden Li opened Martinez Window Washing Co. on July 1, 2020. During July, the following transactions were completed. July 1 Shareholders invested NT$11.520 cash in the business in exchange for ordinary shares. 1 Purchased used truck for NT$7,680, paying NT$1,920 cash and the balance on account. 3 Purchased cleaning supplies for NT$864 on account. 12 5 Paid NT$1,728 cash on a 1-year insurance policy effective July 1. 12 18 20 20 Billed customers NT$3,552 for cleaning services performed. Paid NT$960 cash on amount owed on truck and NT$480 on amount owed on cleaning supplies. Paid NT$1,920 cash for employee salaries. 21 Collected NT$1,536 cash from customers billed on July 12. 25 Billed customers NT$2.400 for cleaning services performed. 31 Paid NT$280 for maintenance of the truck during month. 31 Declared and paid a NT$576 cash dividend. The chart of accounts for Martinez Window Washing contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Salaries and Wages Payable, Share Capital- Ordinary, Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Insurance Expense, and Salaries and Wages Expense.
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