Mike Greenberg decided to start Kleene Window Washing Co. on July 1, 2020. During July, the following transactions were completed.

July 1

Owner invested $12,000 cash in the company.

1 Purchased used truck for $8,000, paying $2,000 cash and the balance on account.

3.Purchased cleaning supplies for $900 on account.

5 Paid $1,800 cash on a 1-year insurance policy effective July 1.

12 Billed customers $3,700 for cleaning services performed.

18 Paid $1,000 cash on amount owed on truck and $500 on amount owed on cleaning supplies.

20 Paid $2,000 cash for employee salaries.

21 Collected $1,600 cash from customers billed on July 12.

25 Billed customers $2,500 for cleaning services performed.

31 Paid $290 for maintenance of the truck during month.

31 Owner withdrew $600 cash from the company.

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we need to LiveJournal the closing entries.

Date

Account Titles and Explanation

Debit

Credit

July 31

(To close revenue account)

July 31

(To close expense accounts)

July 31

(To close net income to capital)

July 31

(To close drawings to capital)

Post closing entries and complete the closing process.

Cash

7/112,0007/12,0007/211,6007/51,8007/181,5007/202,0007/312907/316007/31

Bal.5,410

Accounts Receivable

7/123,7007/211,6007/252,5007/311,7007/31

Bal.6,300

Supplies

7/39007/315807/31

Bal.320

Prepaid Insurance

7/51,8007/311507/31 Bal.1,650 Equipment

7/18,0007/31 Bal.8,000

Accumulated Depreciation-Equipment

7/311807/31 Bal.180

Accounts Payable

7/181,5007/16,0007/39007/31

Bal.5,400

Salaries and Wages Payable

7/314007/31 Bal.400

Owner's Capital

7/1

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7/31 Bal.

7/1$12,000

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7/31 Bal.

Owner's Drawings7/31600

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7/31 Bal.

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7/31 Bal.

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7/31 Bal.

Income Summary

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7/31 Bal.

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7/31 Bal.

Service Revenue

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7/31 Bal.

7/123,700

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7/252,500

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7/31 Bal.

7/311,700

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7/31 Bal.

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7/31 Bal.

Maintenance and Repairs Expense

7/31290

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7/25

7/31

7/31 Bal.

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7/31

7/31 Bal.

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7/25

7/31

7/31 Bal.

Supplies Expense

7/31580

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7/25

7/31

7/31 Bal.

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7/31 Bal.

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7/31 Bal.

Depreciation Expense

7/31180

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7/18

7/20

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7/25

7/31

7/31 Bal.

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7/31 Bal.

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7/31

7/31 Bal.

Insurance Expense

7/31150

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7/31

7/31 Bal.

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7/31 Bal.

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7/31 Bal.

Salaries and Wages Expense

7/202,000

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7/31

7/31 Bal.

7/31400

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7/31 Bal.

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7/31 Bal.