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Kristin Malone opened Kristins Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions. July 1 Stockholders invested $18,000 cash
Kristin Malone opened Kristins Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions.
July | 1 | Stockholders invested $18,000 cash in the business in exchange for common stock. | |
1 | Purchased a used truck for $10,000, paying $3,100 cash and the balance on account. | ||
3 | Purchased cleaning supplies for $800 on account. | ||
5 | Paid $1,788 on a 1-year insurance policy, effective July 1. | ||
12 | Billed customers $3,700 for cleaning services. | ||
18 | Paid $1,000 of amount owed on truck, and $200 of amount owed on cleaning supplies. | ||
20 | Paid $1,500 for employee salaries. | ||
21 | Collected $1,500 from customers billed on July 12. | ||
25 | Billed customers $1,700 for cleaning services. | ||
31 | Paid gasoline for the month on the truck, $500. | ||
31 | Declared and paid a $500 cash dividend. |
Here is all of the previous information, I need help with the last 3 parts below.
| Journalize the July transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the pr Date Account Titles and Explanation Debit Credit July 1 Cash 18000 Common Stock 18000 (To record cash invested in the business.) July 1 # Delivery Trucks 10000 Cash 3100 Accounts Payable 6900 (To record purchase of truck.) | July 3 Supplies 800 Accounts Payable 800 July 5 Prepaid Insurance 1788 Cash 1788 July 12 # Accounts Receivable 3700 Service Revenue 3700 July 18 # Accounts Payable 1200 Cash 1200 July 20Salaries and Wages Expen 1500 Cash 1500 July 21 Cash 1500
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