Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ivanhoe Clark opened Ivanhoe's Cleaning Service on July 1, 2022. During July, the following transactions were completed. Ivanhoe invested $20,100 cash in the business. Purchased

Ivanhoe Clark opened Ivanhoe's Cleaning Service on July 1, 2022. During July, the following transactions were completed. Ivanhoe invested $20,100 cash in the business. Purchased used equipment for $9,200, paying $3,800 cash and the balance on account. Purchased cleaning supplies for $2,200 on account. Paid $1,920 cash on a 1-year insurance policy effective July 1. Billed customers $4,600 for cleaning services. Paid $1,500 cash on amount Paid $2,500 cash for employee salaries. Collected $3,300 cash from customers billed on July 12. Billed customers $6,000 for cleaning services. Paid $350 for monthly utilitiy bill for the equipment. (Use Utilities Expense.) 31 Withdraw $5,600 cash for personal use. July 1 1 3 5 12 18 20 21 25 31 on truck and $1,400 on amount owed on cleaning supplies.
image text in transcribed
image text in transcribed
Ivanhoe Clark opened Ivanhoe's Cleaning Service on July 1, 2022. During July, the following transactions were completed July 1 Ivanhoe invested $20,100 cash in the business. 1 Purchased used equipment for $9,200, paying $3,800 cash and the balance on account. 3 Purchased cleaning supplies for $2,200 on account. 5 Paid $1,920 cash on a 1-year insurance policy effective July 1. 12 Billed customers $4,600 for cleaning services. 18 Paid $1,500 cash on amount owed on truck and $1,400 on amount owed on cleaning supplies. 20 Paid $2,500 cash for employee salaries. 21 Collected $3,300 cash from customers billed on July 12 . 25 Bitled customers $6,000 for cleaning services. 31 Paid $350 for monthly utilitiy bill for the equipment. (Use Utilities Expense.) 31 Withdraw $5,600 cash for personal use. Ivanhoe Clark opened Ivanhoe's Cleaning Service on July 1, 2022. During July, the following transactions were completed July 1 Ivanhoe invested $20,100 cash in the business. 1 Purchased used equipment for $9,200, paying $3,800 cash and the balance on account. 3 Purchased cleaning supplies for $2,200 on account. 5 Paid $1,920 cash on a 1-year insurance policy effective July 1. 12 Billed customers $4,600 for cleaning services. 18 Paid $1,500 cash on amount owed on truck and $1,400 on amount owed on cleaning supplies. 20 Paid $2,500 cash for employee salaries. 21 Collected $3,300 cash from customers billed on July 12 . 25 Bitled customers $6,000 for cleaning services. 31 Paid $350 for monthly utilitiy bill for the equipment. (Use Utilities Expense.) 31 Withdraw $5,600 cash for personal use

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Reporting The Theoretical And Regulatory Framework

Authors: D A V I D Alexander

2nd Edition

0412357909, 978-0412357909

More Books

Students also viewed these Accounting questions