Mike Greenberg opened Culver Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. July 1 1 5 12 18 Issued 13,400 shares of common stock for $13,400 cash. Purchased used truck for $8,960, paying $2,240 cash and the balance on account. Purchased cleaning supplies for $1,010 on account. Paid $2,040 cash on a 1-year insurance policy effective July 1. Billed customers $4,140 for cleaning services performed. Paid $1,120 cash on amount owed on truck and $560 on amount owed on cleaning supplies. Paid $2,240 cash for employee salaries. Collected $1,790 cash from customers billed on July 12. Billed customers $2,800 for cleaning services performed. Paid $320 for maintenance of the truck during month. Declared and paid $670 cash dividend. 20 21 25 31 31 The chart of accounts for Culver 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. Date Account Titles and Explanation Debit Credit July 1 Cash 13400 Common Stock July 1 Equipment 8960 Cash Accounts Payable July 3 Supplies 1010 Accounts Payable July 5 Prepaid Insurance 2040 Cash July 12 Accounts Receivable 4140 Service Revenue July 18 Accounts Payable 1680 Cash July 20 Salaries and Wages Expense 2240 Cash July 21 Cash 1790 Accounts Receivable July 25 Accounts Receivable 2800 Service Revenue July 31 Maintenance and Repairs Expense 320 Cash July 31 Dividends 670 Cash Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.) Cash 7/1 13400 7/1 2240 7/21 1790 775 2040 7/18 1680 7/20 2240 7/31 320 7/31 670 7/31 Bal. 6000 Accounts Receivable 7/12 4140 7/21 1790 7/25 2800 7/31 Bal. 5150 Supplies IL 7/3 1010 7/31 Bal. 1010 Prepaid Insurance 7/5 2040 7/31 Bal. 2040 Equipment 7/1 8960 7/31 Bal. 8960 Accounts Payable 7/18 1680 7/1 6720 7/3 1010 7/31 Bal 6050 Common Stock 7/1 13400 7/31 Bal 13400 Dividends 7/31 670 7/31 Bal. 670 Service Revenue 7/12 4140 7/25 2800 7/31 Bal. 6940 Maintenance and Repairs Expense 7/31 320 7/31 Bal. 320 Salaries and Wages Expense 7/20 2240 7/31 Bal. 2240 Prepare a trial balance at July 31 CULVER WINDOW WASHING INC. Trial Balance July 31, 2022 Debit Credit Cash 6000 Accounts Receivable 5150 Supplies 1010 Prepaid Insurance 2040 Equipment 8960 Accounts Payable 6050 Common Stock 13400 Dividends 670 Service Revenue 6940 Maintenance and Repairs Expense 320 Salaries and Wages Expense 2240 Totals $ 26390 26390 Post adjusting entries to the T-accounts. Cash 7/1 13,400 7/1 2,240 7/21 1,790 7/5 2,040 7/18 1,680 7/20 2,240 7/31 320 7/31 670 7/31 Bal. 6.000 Accounts Receivable 7/12 4,140 7/21 1.790 7/25 2,800 V Supplies 7/3 V 1,010 Prepaid Insurance 7/5 2,040 Equipment 7/1 8,960 7/31 Bal. 8,960 Accumulated Depreciation-Equipment Accounts Payable 7/18 1,680 7/1 6,720 7/3 1,010 7/31 Bal. 6,050 Salaries and Wages Payable Common Stock 7/1 13,400 7/31 Bal. 13,400 Dividends 7/31 670 V Service Revenue 7/12 4,140 7/25 2.800 Maintenance and Repairs Expense 7/31 320 Supplies Expense Depreciation Expense Insurance Expense Salaries and Wages Expense 7/20 2,240 V
