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Journalize the July transactions Pharoah Clark opened Pharoah's Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 Pharoah invested
Journalize the July transactions
Pharoah Clark opened Pharoah's Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 Pharoah invested $20,200 cash in the business. 1 Purchased used equipment for $9,200, paying $4,100 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 $4,500 for cleaning services. 18 Paid $1,400 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 $3,500 cash from customers billed on July 12. 25 Billed customers $6,000 for cleaning services. 31 Paid $340 for monthly utilitiy bill for the equipment. (Use Utilities Expense.) 31 Withdraw $5,500 cash for personal useStep by Step Solution
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