Question
Mike Simonetti opened Mike's lawn services. The following transactions occured during July of the current year. July 1: Simonetti invested $3,000 cash and $4,000 lawn
Mike Simonetti opened Mike's lawn services. The following transactions occured during July of the current year. July 1: Simonetti invested $3,000 cash and $4,000 lawn equipment in the business. July 2, paid $400 for rent for the month. July 7, received $4,500 cash for lawn services. July 11, paid $150 for advertising in local paper. July 14, purchased office supplies on account $300. July 16, paid $800 for lawn supplies. July 20, billed customers $2,000 for lawn services. July 22 received a bill for $160 for July utilities, to be paid next month. July 25, paid $360 for a one year insurance policy. July 28, paid $200 to a creditor on account. July 29, received $800 from customers on account. July 31, Simonetti withdrew $1,200 for personal use. Record the transaction in the general journal; post the transaction to the general ledger; trial balance , income statement , statement of owners equity , balance sheet on July 31.
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