Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Mike Greenberg opened Novak Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. July 1 Issued 11,300 shares of common
Mike Greenberg opened Novak Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. July 1 Issued 11,300 shares of common stock for $11,300 cash. 1 3 5 Purchased used truck for $7,520, paying $1,880 cash and the balance on account. Purchased cleaning supplies for $850 on account. Paid $1,680 cash on a 1-year insurance policy effective July 1. 12 Billed customers $3,480 for cleaning services performed. 18 20 22 21 25 31 31 Paid $940 cash on amount owed on truck and $470 on amount owed on cleaning supplies. Paid $1,880 cash for employee salaries. Collected $1,500 cash from customers billed on July 12. Billed customers $2,350 for cleaning services performed. Paid $270 for maintenance of the truck during month. Declared and paid $560 cash dividend. July 20 Cash Salaries and Wages Expense Cash July 20 Cash Accounts Receivable July 25 Accounts Receivable July 31 Service Revenue 1880 1500 2350 Maintenance and Repairs Expense 270 Cash July 31 Dividends Cash 33 14 18 15 22 Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.) Cash 7/1 11300 7/1 1880 7/21 1500 7/5 1680 7/31 Bal. v 5590 Accounts Receivable 7/18 940 7/20 1880 7/31 270 7/31 560 Accounts Payable 7/18 V 940 7/1 5640 Common Stock Dividends 7/31 560 7/3 850 7/31 Bal. 5550 7/1 11300 7/31 Bal. 11300
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