Mike Greenberg opened Blue Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. July 1 1 3 3 5 12 18 Issued 14,600 shares of common stock for $14,600 cash. Purchased used truck for $9,760, paying $2,440 cash and the balance on account. Purchased cleaning supplies for $1,100 on account. Paid $2,160 cash on a 1-year insurance policy effective July 1. Billed customers $4.510 for cleaning services performed. Paid $1,220 cash on amount owed on truck and $610 on amount owed on cleaning supplies. Paid $2,440 cash for employee salaries. Collected $1,950 cash from customers billed on July 12. Billed customers $3,050 for cleaning services performed. Paid $350 for maintenance of the truck during month. Declared and paid $730 cash dividend. 20 21 25 31 31 The chart of accounts for Blue Window Washing contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Salaries and Wages Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Insurance Expense, and Salaries and Wages Expense. Journalize the July transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) ate Debit Credit Account Titles and Explanation Cash 1 14600 Common Stock 14600 1 Equipment 9760 Cash 2440 Accounts Payable 7320 3 Supplies 1100 Accounts Payable 1100 5 Prepaid Insurance 2160 Cash 2160 12 Accounts Receivable 4510 Service Revenue 4510 18 Accounts Payable 1830 Cash 1830 20 Salaries and Wages Expense 2440 Cash 2440 21 cash 1950 Accounts Receivable 1950 25 7/31 Bal. 2440 Salaries and Wages Expense 490 0 Salaries and Wages Payable 490 Post adjusting entries to the T-accounts. Cash 7/1 7/21 14,600 7/1 1,950 7/5 7/18 7/20 7/31 7/31 6,600 2,440 2,160 1,830 2,440 350 730 7/31 Bal. Accounts Receivable 7/12 4,510 7/21 1,950 7/25 3,050 Supplies 7/3 1,100 Prepaid Insurance 7/5 2,160 Equipment 7/1 7/31 Bal. 9,760 9,760 Accumulated Depreciation-Equipment Accounts Payable 7/18 1,830 7/1 7/3 7/31 Bal. 7.320 1.100 6,590 Salaries and Wages Payable Common Stock 7/1 7/31 Bal. 14,600 14,600 Dividends 7/31 730 Service Revenue 7/12 4,510 7/25 3.050 > Maintenance and Repairs Expense 7/31 350 Supplies Expense Depreciation Expense Insurance Expense Salaries and Wages Expense 7/20 2,440 > Prepare an adjusted trial balance. BLUE WINDOW WASHING INC. Trial Balance Debit Credit $ $ $ Totals Prepare the income statement for July. BLUE WINDOW WASHING INC. Income Statement $ $
