Question
Mike Greenberg openedSarasotaWindow Washing Co. on July 1, 2020. During July, the following transactions were completed. July 1 Owner invested $12,500cash in the company. 1Purchased
Mike Greenberg openedSarasotaWindow Washing Co. on July 1, 2020. During July, the following transactions were completed.
July 1
Owner invested $12,500cash in the company.
1Purchased used truck for $8,320, paying $2,080cash and the balance on account.3Purchased cleaning supplies for $940on account.
5Paid $1,920cash on a 1-year insurance policy effective July 1.
12Billed customers $3,850for cleaning services performed.
18Paid $1,040cash on amount owed on truck and $520on amount owed on cleaning supplies.20Paid $2,080cash for employee salaries.
21Collected $1,660cash from customers billed on July 12.
25Billed customers $2,600for cleaning services performed.
31Paid $300for maintenance of the truck during month.
31Owner withdrew $620cash from the company.
(a)
Journalize the July transactions.(Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
Date
Account Titles and Explanation
Debit
Credit
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
(To record cash invested in the business)
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
(To record purchase of truck.)
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
(To record maintenance of the truck)
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
(To record owner withdraws)
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Cornerstones Of Cost Accounting
Authors: Don Hansen, Maryanne M. Mowen
1st Edition
053873678X, 978-0538736787
