Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Mike Greenberg opened Concord Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. July 1 Issued 13,200 shares of common
Mike Greenberg opened Concord Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. July 1 Issued 13,200 shares of common stock for $13,200 cash. 1 3 5 12 Billed customers $4,070 for cleaning services performed. 18 20 21 Purchased used truck for $8,800, paying $2,200 cash and the balance on account. Purchased cleaning supplies for $990 on account. Paid $2,040 cash on a 1-year insurance policy effective July 1. Paid $1,100 cash on amount owed on truck and $550 on amount owed on cleaning supplies. Paid $2,200 cash for employee salaries. Collected $1,760 cash from customers billed on July 12. 25 Billed customers $2,750 for cleaning services performed. 31 31 Paid $320 for maintenance of the truck during month. Declared and paid $660 cash dividend. The chart of accounts for Concord 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. Accounts Receivable Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.) Cash Accounts Receivable > Supplies Prepaid Insurance Equipment Accounts Payable v Common Stock Dividends > Dividends Service Revenue Maintenance and Repairs Expense Salaries and Wages Expense
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started