Question
Jack & Jill Swanson opened Clean Window Washing Inc. on July1, 2019 . During July, the following transactions were completed. July1 Issued 12,000 shares of
Jack & Jill Swanson opened Clean Window Washing Inc. on July1, 2019. During July, the following transactions were completed.
July1
Issued 12,000 shares of common stock for $12,000 cash.
1
Purchased used truck for $8,000, paying $2,000 cash and the balance on account (AP).
3
Purchased cleaning supplies (asset) for $900 on account.
5
Paid $1,800 cash on a 1-year insurance policy effective July1.
12
Billed customers $3,700 for cleaning services.
18
Paid $1,000 cash on amount owed on truck and $500 on amount owed on cleaning supplies.
20
Paid $2,000 cash for employee salaries. (Salaries and Wages Expense)
21
Collected $1,600 cash from customers billed on July12.
25
Billed customers $2,500 for cleaning services.
31
Paid $290 for maintenance of the truck during month. (Maintenance and Repairs Expense)
31
Declared and paid $600 cash dividend.
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