Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. During July, the following transactions were completed. July 1 Issued 15,385 shares of common

Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. During July, the following transactions were completed.

July 1 Issued 15,385 shares of common stock for $15,385 cash.
1 Purchased used truck for $11,385, paying $2,084 cash and the balance on account.
3 Purchased cleaning supplies for $942 on account.
5 Paid $2,040 cash on a 1-year insurance policy effective July 1.
12 Billed customers $4,870 for cleaning services.
18 Paid $1,284 cash on amount owed on truck and $538 on amount owed on cleaning supplies.
20 Paid $2,261 cash for employee salaries.
21 Collected $1,635 cash from customers billed on July 12.
25 Billed customers $2,679 for cleaning services.
31 Paid $386 for maintenance of the truck during month.

31 Declared and paid $650 cash dividend.

A. Journalize the July Transactions.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Frank Woods Business Accounting Volume 2

Authors: Frank Wood, Alan Sangster

13th Edition

1292085053, 9781292085050

More Books

Students also viewed these Accounting questions