Question
Kristin Malone opened Kristins Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions. July1Stockholders invested $14,000 cash in the
Kristin Malone opened Kristins Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions. July1Stockholders invested $14,000 cash in the business in exchange for common stock.1Purchased a used truck for $10,000, paying $3,000 cash and the balance on account.3Purchased cleaning supplies for $800 on account.5Paid $1,800 on a 1-year insurance policy, effective July 1.12Billed customers $3,800 for cleaning services.18Paid $1,000 of amount owed on truck, and $400 of amount owed on cleaning supplies.20Paid $1,600 for employee salaries.21Collected $1,400 from customers billed on July 12.25Billed customers $1,500 for cleaning services.31Paid gasoline for the month on the truck, $400.31Declared and paid a $600 cash dividend. Post the July transactions.
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