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Mike Greenberg opened Flounder Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. July 1 1 3 Issued 10,100
Mike Greenberg opened Flounder Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. July 1 1 3 Issued 10,100 shares of common stock for $10,100 cash. Purchased used truck for $6,720, paying $1,680 cash and the balance on account. Purchased cleaning supplies for $760 on account. Paid $1,560 cash on a 1-year insurance policy effective July 1. Paid $840 cash on amount owed on truck and $420 on amount owed on cleaning supplies. Paid $1,680 cash for employee salaries. 5 12 Billed customers $3,110 for cleaning services performed. 18 20 21 25 Billed customers $2,100 for cleaning services performed. 31 31 Paid $240 for maintenance of the truck during month. Declared and paid $500 cash dividend. Collected $1,340 cash from customers billed on July 12. The chart of accounts for Flounder 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.
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