Question
July 1 Shareholders invested NT$12,000 cash in the business in exchange for ordinary shares. 1 Purchased used truck for NT$8,000, paying NT$2,000 cash and the
July 1 Shareholders invested NT$12,000 cash in the business in exchange for ordinary shares. 1 Purchased used truck for NT$8,000, paying NT$2,000 cash and the balance on account. 3 Purchased cleaning supplies for NT$900 on account. 5 Paid NT$1,800 cash on a 1-year insurance policy eff ective July 1. 12 Billed customers NT$3,700 for cleaning services performed. 18 Paid NT$1,000 cash on amount owed on truck and NT$500 on amount owed on cleaning supplies. 20 Paid NT$2,000 cash for employee salaries. 21 Collected NT$1,600 cash from customers billed on July 12. 25 Billed customers NT$2,500 for cleaning services performed. 31 Paid NT$290 for maintenance of the truck during month. 31 Declared and paid a NT$600 cash dividend. The chart of accounts for Kleene Window Washing contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated DepreciationEquipment, Accounts Payable, Salaries and Wages Payable, Share CapitalOrdinary, Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Insurance Expense, and Salaries and Wages Expense. Instructions a. Journalize the July transaction
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