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Question 1 View Policies Show Attempt History Current Attempt in Progress Mike Greenberg opened Flounder Window Washing Co. on July 1, 2020. During July, the following transactions were completed. July 1 Owner invested $10,100 cash in the company. 1 Purchased used truck for $6.720, paying $1,680 cash and the balance on account. 3 Purchased cleaning supplies for $760 on account. 5 Paid $1,560 cash on a 1-year insurance policy effective July 1. 12 Billed customers $3,110 for cleaning services performed 18 Paid $840 cash on amount owed on truck and $420 on amount owed on cleaning supplies. 20 Paid $1,680 cash for employee salaries. 21 Collected $1,340 cash from customers billed on July 12 25 Billed customers $2,100 for cleaning services performed. 31 Paid $240 for maintenance of the truck during month. 31 Owner withdrew $500 cash from the company. FLOUNDER WINDOW WASHING CO. Trial Balance July 31, 2020 Debit Credit Cash 4520 Accounts Receivable 5300 Supplies 270 Prepaid Insurance 1430 Equipment 6720 Maintenance and Repairs Expense 240 Supplies Expense 490 Depreciation Expense 150 Accumulated Depreciation Equipment 150 Accounts Payable 4540 Salaries and Wages Payable 340 Owner's Capital 10100 Owner's Drawings 500 Service Revenue 6640 Insurance Expense 130 Salaries and Wages Expense 2020 Totals 21770 $ 21770 FLOUNDER WINDOW WASHING CO. Income Statement For the Month Ended July 31, 2020 , Revenues Service Revenue 6640 Expenses Maintenance and Repairs Expense 240 Supplies Expense 490 i Depreciation Expense 150 i Insurance Expense 130 i Salaries and Wages Expense 2020 Total Expenses 3030 Net Income /(Loss) 3610 Prepare an owners equity statement for July (List items that increase owner's equity hist.) FLOUNDER WINDOW WASHING CO. Owner's Equity Statement For the Month Ended July 31, 2020 4 Owner's Capital, July 1 : Add : Investments 10100 Net Income/(Loss) 3610 13710 13710 Less 4: Drawings 500 i Owner's Capital, July 31 13210 FLUVIULA VanVW WAJIBAVU ww. Balance Sheet Assets Liabilities and Owner's Equity