December 1, 2017 The office manager pays the beginning of the month expenses. December 1, 2017 Deal signs up 6 more weekly customers at a rate of $120 per week and 6 customers who will require cleaning every 2 weeks for a rate of $160 per service. Customer terms are same as those signed up in November. December 3, 2017 Ten of the weekly customers and 4 of the bi-weekly customers pay their balance through a bank wire deposit by the end of the day. December 4, 2017 Jack purchases $52 in gas for the truck. December 5, 2017 Jack is contacted by the church they cleaned up after the wedding on November 18, 2017. The church and Jack negotiate for Emelia and Vic to clean the church each Sunday night in December through December 24 for a rate of $400 per cleaning. The church pays the balance up front. December 10, 2017 The remaining eight customers pay their balance from the November 30 billing through a bank wire. December 10, 2017 Vic and Emelia work 3 hours each to clean up church after evening service. December 13, 2017 Jack is contacted by the Smith family who wants a deep cleaning of all the tile in their house as well as their patio. Jack negotiates a $1420 price and Vic completes the job by end of December 15, 2017. Smith pays on 12/15/17 before Vic starts the job. December 15, 2017 Linda prepares the payroll and bills the customers per Jacks instructions. December 15, 2017 Warhawk Gym needs another cleaning after the Saturday graduation ceremonies. Jack negotiates a price of $2300 for 12/16/17 and Warhawk Gym is billed for the service with terms of 2/10, n/eom. The gym asks that the floors be polished so Jack goes to Home Depot and buys equipment that costs $1200 and according to the salesman will probably last 24 months with $0 residual value. Jack pays cash. December 16, 2017 After the graduation, Vic works 5 hours and Emelia worked 3 hours on the job. Vic works longer since he has to polish the floors. December 17, 2017 Vic and Emelia work 3 hours each to clean up church after evening service and musical. Linda receives payments from 12 of the weekly customers and 8 of the biweekly customers by ACCT 3110 Fall 2021 Smith Practice Case 4 December 18, 2017 end of the day. December 19, 2017 Jack goes to Big Sparkle to purchase supplies for $1920 on account. Jack goes by Office Depot and purchases paper, ink, and coffee for office and pays $197 in cash. December 21, 2017 Guardian Credit Union contracts with Jack to clean their office after their annual Christmas Open House on December 22, 2017. Jack receives $1500 for the job. December 22, 2017 Jack purchases gas for the company truck at $48 and draws out $1500 from the business account since he needs to buy Christmas gifts for his family as well as pay monthly bills. December 23, 2017 Vic and Emelia work 3 hours each to clean the bank office after the Christmas Open House. December 24, 2017 Vic and Emelia work 4 hours each to clean up church after evening service and candlelight service. Wax from candles was hard to remove from the carpet and choir chairs. December 25, 2017 Jack gives the office staff and cleaning crew both Christmas and the next day a paid holiday. December 25, 2017 The customers billed on December 15, 2017 that did not take the discount wire their payments to the Deal Cleaning Corporation business account. December 28, 2017 The Lane family asks Jack to send Vic out on Friday to deep clean their kitchen tile after they saw the Smith family tile after cleaning at the Smith Christmas party. Jack negotiates a price of $1750 since its last minute and asks that the bill be paid by end of month. December 29, 2017 Vic performs the job for the Lane family by 5 pm. December 29, 2017 Since December 31 is a holiday and January 1 is a holiday, Jack instructs Linda to go ahead and prepare and pay payroll (and act as if through 31st), bill customers, pays balances on accounts, performs adjusting and closing entries, and prepare monthly financials. Jack tells Linda that he has counted $2370 in supplies. Jack gives January 1 as a holiday. The Warhawk payment is also received on December 29. December 31, 2017 Check Figures are Retained Earnings $10422 and Total Assets are $114255

Prepare journal entries