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Mike Greenberg opened Kleene Window Washing Co. on July 1, 2022. During July, the following transactions were completed. July 1 Owner invested $12,000 cash in
Mike Greenberg opened Kleene Window Washing Co. on July 1, 2022. During July, the following transactions were completed. July 1 Owner invested $12,000 cash in the company. 1 Purchased used truck for $8,000, paying $2,000 cash and the balance on account. 3 Purchased cleaning supplies for $900 on account. 5 Paid $1,800 cash on a 1-year insurance policy effective July 1. 12 Billed customers $3,700 for cleaning services performed. 18 Paid \$1,000 cash on amount owed on truck and \$500 on amount owed on cleaning supplies. 20 Paid $2,000 cash for employee salaries. 21 Collected \$1,600 cash from customers billed on July 12. 25 Billed customers $2,500 for cleaning services performed. 31 Paid $290 for maintenance of the truck during month. 31 Owner withdrew $600 cash from the company. (h) Journalize the closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit July 31 (To close revenue account) July 31 (To close expense accounts) July 31 (To close net income to capital) July 31 (To close drawings to capital) Post closing entries and complete the closing process. (For accounts that have zero ending balance, the entry should be the balance
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