Kristin Malone opened Kristin's Maid Cleaning Service on July 1, 2014. During July, the company completed the following transactions.

July 1 Invvested $14,000 cash in the business.

July 1 Purchaed a used truck for $10,000, paying $2,000 cash adn the balance using a Notes Payable.

July 3 Purchased cleaning supplies for $600 on account

July 5 Paid $3,600 on a 1- year insurance policy, effective july 1.

July 12 Billed customers $3,800 for cleaning services

July 18 Paid $2,000 of amount owed on truck, adn $400 of amount owed on cleaning supplies (prepare a compund entry.)

July 20 Paid $1,600 for employee salaries

July 25 Billed customers $1,500 for services

July 31 Paid gasoline for truck, $400 and withdrew $600 cash for personal use (prepare a compound entry.)

A. Journalize the July transactions

B. Prepare and record the adjusting journal entires for the following July 31 end of period adjustments:

1. Unbilled fees for services performed at July 31 were $1,300.

2. Depreciation on equipment for the month was $200

3. One month of the insurance expired.

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

5. Accrued but unpaid employee salaries were $500.

C. Prepare and record the closing journal entries for the month of July.

D. Prepare an income statement for the mothh of July

#Name:

Points = 30: 1.a. General-Journal Transactions: Date Account Debit Credit

Page 1 of 3

Date Account Debit Credit

b. Adjusting-Entries: Date Account Debit Credit

Page 2 of 3 c. Closing-Entries: Date Account Debit Credit

d. Income-Statement: Kristin