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View Policies Show Attempt History Current Attempt in Progress Lee Chang opened Blossom's Window Washing on July 1, 2021. In July, the following transactions were completed: July 1 1 1 5 12 Invested $ 22,000 cash in the business. Purchased a used truck for $ 25,200, paying $5,200 cash and signing a note payable for the balance. Paid $2,800 on a one-year insurance policy, effective July 1. Billed customers $3,500 for cleaning services. Purchased supplies for $2.100 on account. Paid $3,000 for employee salaries. Billed customers $9,000 for cleaning services. Collected $ 3,500 from customers billed on July 5. Paid $550 for repairs on the truck. Withdrew $2,300 cash for personal use. 18 25 28 31 31 Journalize and post the July transactions to the general ledger. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit July 14 Cash 22000 22.000 L. Chang, Capital (To record cash invested in the business) July 1 Vehicles 25.200 Cash 5.200 Notes Payable 20.000 (To record purchase of truck) July 1 Prepaid Insurance 2.800 Cash 2.800 (To record payment of insurance) July 5. Accounts Receivable 3.500 Service Revenue 3.500 July 12 Supplies 2.100 Accounts Payable 2100 July 18 Salaries Expense 31000 Service Revenue 3.500 July 12 Supplies 2.100 Accounts Payable 2.100 July 18 Salaries Expense 3,000 Cash 3,000 July 25 4 Accounts Receivable : 9,000 Service Revenue 9,000 July 28 : Cash 3,500 Accounts Receivable : 3.500 July 31 Repairs Expense 550 Cash 550 (To record payment of fuel) | July 31 L. Chang. Drawings 2,000 M Cash 2.300 (To record cash withdrawal for personal use) Cash Date Explanation Ref. Debit Credit Balance July 1 J1 22.000 22.000 1 J1 5,200 16,800 1 J1 2.800 14,000 18 J1 3,000 11,000 28 J1 3,500 14.500 31 J1 550 13.950 31 J1 2,300 11,650 Accounts Receivable Date Explanation Ref. Debit Credit Balance July 5 J1 3,500 3.500 25 J1 9,000 12.500 28 J1 3,500 9,000 Supplies Date Explanation Ref. Debit Credit Balance July 12 J1 2,100 2 100 Prepaid Insurance Date Explanation Ref. Debit Credit Balance July 1 J1 2.800 2,800 Vehicles Date Explanation Ref. Debit Credit Balance July 1 J1 25 200 25,200 Accounts Payable Debit Date Explanation Ref. Credit Balance July 12 J1 2.100 2.100 Notes Payable Date Explanation Ref. Debit Credit Balance July 1 J1 20,000 20,000 L. Chang, Capital Debit Date Explanation Ref. Credit Balance July 1 J1 22.000 22,000 L. Chang, Drawings Debit Date Explanation Ref. Credit Balance July 31 J1 2300 2.300 July 1 11 22,000 22.000 L. Chang, Drawings Date Explanation Ref. Debit Credit Balance July 31 J1 2,300 2.300 Service Revenue Date Explanation Ref. Debit Credit Balance July 5 J1 3.500 3.500 25 J1 9.000 12.500 Repairs Expense Debit Date Explanation Ref. Credit Balance July 31 J1 550 550 Salaries Expense Date Explanation Ref. Debit Credit Balance July 18 J1 3.000 3.000 Prepare a trial balance at July 31. BLOSSOM'S WINDOW WASHING Trial Balance Joly 31 2021 Debit Credit Cash 11650 Accounts Receivable 9000 Supplies 2100 Prepaid Insurance 2800 Vehicles 25200 Accounts Payable 2100 Notes Payable 20000 L. Chang. Capital 22000 L Chang Drawings: 2300 Service Revenue 12500 Repairs Expense 550 Salaries Expense 3000 Totals $ 56600 $ 56600 Journalize and post the following July 31 adjustments: (Credit account titles are automatically indented when amount is entered. Do not indent manually . If no entry is required, select "No Entry for the account titles and enter for the amounts. Round answers to 0 decimal places, e.g. 5,276.) 1. 2. 3. Services of $ 1,700 were provided but remained unbilled and uncollected at July 31. The truck has an estimated useful life of five years. One twelfth of the insurance expired. An inventory count shows $ 740 of supplies on hand at July 31. Accrued but unpaid employee salaries were $1,000. The note payable has a 6% annual interest rate. 4. 5. 6. Debit Credit Date Account Titles and Explanation July 31 Accounts Receivable 1700 1700 Service Revenue (To accrue revenue earned but not billed or collected) Depreciation Expense July 31 420 Accumulated Depreciation - Vehicles 420 (To record depreciation) July 31 Insurance Expense 23333 Prepaid Insurance 233.33 (To record insurance expired) Service Revenue 1700 (To accrue revenue earned but not billed or collected) July 31 Depreciation Expense 420 Accumulated Depreciation Vehicles 420 (To record depreciation) July 31 Insurance Expense 233.33 Prepaid Insurance 233:33 (To record insurance expired) UL ULUL ALTRE July 31 Supplies Expense 1360 Supplies 1360 (To record supplies used) July 31 Salaries Expense 1000 Salaries Payable 1000 (To record accrued salaries) July 31 Interest Expense 100 Interest Payable 100 (To record accrued interest) Cash Date Explanation Ref. Debit Credit Balance July 1 J1 22,000 22,000 1 J1 5,200 16,800 1 J1 2,800 14,000 18 J1 3,000 11.000 28 J1 3,500 14.500 31 J1 550 13,950 31 J1 2,300 11,650 Date Explanation Ref. Accounts Receivable Debit Credit 3,500 Balance July 5 J1 3,500 25 J1 9,000 12,500 28 J1 3,500 9,000 31 Adjusting J2 1700 10700 Supplies Date Explanation Ref. Debit Credit Balance July 12 J1 2,100 2.100 31 Adjusting J2 1360 740 Prepaid Insurance Date Explanation Ref. Debit Credit Balance July 1 J1 2,800 2.800 31 Adjusting J2 233 2567 Vehicles Debit Date Explanation Ref. Credit Balance July 1 J1 25,200 25,200 Accumulated DepreciationVehicles Debit Credit Date Explanation Ref. Balance July 31 Adjusting J2 420 420 Accounts Payable Debit Credit Date Explanation Ref. July 12 J1 Balance 2,100 2,100 Salaries Payable Date Explanation Ref. Debit Credit Balance July 31 Adjusting J2 1000 1000 Interest Payable Date Explanation Ref. Debit Credit Balance July 31 Adjusting J2 100 100 Notes Payable Debit Date Explanation Ref. Credit Balance July 1 J1 20,000 20,000 L. Chang, Capital Debit Date Explanation Ref. Credit 22,000 Balance 22.000 July 1 J1 L. Chang, Drawings Debit 2,300 Credit Date Explanation Ref. July 31 Balance J1 2,300 Service Revenue Debit Credit Balance Date Explanation Ref. July 5 J1 3,500 3,500 9,000 25 J1 12,500 31 Adjusting J2 1700 14200 Repairs Expense Date Explanation Ref. Debit Credit Balance July 31 J1 550 550 Salaries Expense Date Explanation Ref. Debit Credit Balance July 18 J1 3,000 3,000 31 Adjusting J2 1000 4000 Repairs Expense Debit Date Explanation Ref. Credit Balance July 31 J1 550 550 Salaries Expense Date Explanation Ref. Debit Credit Balance July 18 J1 3,000 3,000 31 Adjusting J2 1000 4000 Supplies Expense Date Explanation Ref. Debit Credit Balance July 31 Adjusting J2 1360 1360 Depreciation Expense Debit Credit Date Explanation Ref. Balance July 31 Adjusting J2 420 420 Insurance Expense Date Explanation Ref. Debit Credit Balance July 31 Adjusting J2 233 233 Interest Expense Date Explanation Ref. Debit Credit Balance July 31 Adjusting J2 100 100 Prepare an adjusted trial balance. (Round answers to O decimal places, e.g. 5,276.) BLOSSOM'S WINDOW WASHING Adjusted Trial Balance July 31, 2021 Debit Credit Cash 11650 $ Accounts Receivable 10700 Supplies 740 Prepaid Insurance 2567 Vehicles 25200 Accumulated Depreciation - Vehicles 420 Accounts Payable 2100 Salaries Payable 1000 Interest Payable 100 Notes Payable 20000 L. Chang Capital 22000 L Chang. Drawings 2300 Service Revenue 14200 Accounts Payable 2100 Salaries Payable 1000 Interest Payable 100 Notes Payable 20000 L. Chang, Capital 22000 L. Chang. Drawings 2300 Servi Revenue 14200 Repairs Expense 550 Salaries Expense 4000 Depreciation Expense 420 Insurance Expense 233 Supplies Expense 1360 Interest Expense 100 Totals 59820 59820 (e 1) Prepare the income statement for July. BLOSSOM'S WINDOW WASHING Income Statement $ + $