Julie Molony opened Julies Maids Cleaning Service on July 1, 2020 During July, the

Company completed the following transactions.

July 1 Molony 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 gasoline for the month on the truck, $400.

31 Withdrew $600 cash for personal use.

The chart of accounts for Julies Maids Cleaning Service contains the following accounts: No.

101 Cash, No. 112 Accounts Receivable, No. 128 Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated DepreciationEquipment, No. 201 Accounts Payable, No. 212 Salaries and Wages Payable, No. 301 Owners Capital, No. 306 Owners Drawings, No. 350 Income Summary, No. 400 Service Revenue, No. 633 Gasoline Expense, No. 634 Supplies Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries and Wages Expense.

Adjustment Data:

a. Earned but unbilled fees at July 31 was $1,300.

b. Depreciation on equipment for the month was $200.

c. One-twelfth of the insurance expired.

d. An inventory count shows $100 of cleaning supplies on hand at July 31.

e. Accrued but unpaid employee salaries were $500.

INSTRUCTIONS

COMPLETE THE ACCOUNTING CYCLE