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Julie Molony opened Julie's Maids Cleaning Service on July 1, 2010. During July, the company completed the following transactions. July 1 Invested $14,000 cash in
Julie Molony opened Julie's Maids Cleaning Service on July 1, 2010. During July, the company completed the following transactions. July 1 Invested $14,000 cash in the business. 1 Purchased a used truck for $10,000, paying $3,000 cash and the balance on account. 3 Purchased cleaning supplies for $800 on account. 5 Paid $1,800 on a one-year insurance policy, effective July 1. 12 Billed customers $3,800 for cleaning services. 18 Paid $1,000 of amount owed on truck, and $400 of amount owed on cleaning supplies. 20 Paid $1,600 for employee salaries. 21 Collected $1,400 from customers billed on July 12. 25 Billed customers $1,500 for cleaning services. 31 Paid gas and oil for the month on the truck, $400. 31 Withdrew $600 cash for personal use. Enter the following adjustments on the worksheet, and complete the worksheet. 1. Income earned but unbilled at July 31 were $1,300. 2. Depreciation on equipment was $200. 3. One-twelfth of the insurance expired. 4. Cleaning supplies on hand $300 5. Accrued but unpaid employee salaries were $500
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