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Heidi Jara opened Riverbed's Cleaning Service on July 1,2022 . During July, the following transactions were completed. July 1 Stockholders invested $20,200 cash in the
Heidi Jara opened Riverbed's Cleaning Service on July 1,2022 . During July, the following transactions were completed. July 1 Stockholders invested $20,200 cash in the business in exchange for common stock. 1 Purchased used truck for $9,200, paying $4,000 cash and the balance on account. . 5 Paid $1,680 cash on a 1-year insurance policy effective July 1. 12 Billed customers $4,400 for cleaning services. 20 Paid $2,500 cash for employee salaries. 21 Collected $3,300 cash from customers billed on July 12 25 Billed customers $5,900 for cleaning services. 31 Paid $350 for the monthly gasoline bill for the truck The chart of accounts for Riverbed's Cleaning Service contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated Depreciation-Equipment, No. 201 Accounts Payable, No. 212 Salaries and Wages Payable, No. 311 Common Stock, No. 320 Retained Earnings, No. 332 Dividends, No. 350 Income Summary, No. 400 Service Revenue, No. 631 Supplies Expense, No. 633 Gasoline Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries and Wages Expense. Post the July transactions. (Post entries in the order of journal entries presented in the previous part.) Prepaid Insurance No. 130
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