Question
Neko Case decides to open a cleaning and laundry service near the local college campus that will operate as a sole proprietorship. Neko Case incurred
Neko Case decides to open a cleaning and laundry service near the local college campus that will operate as a sole proprietorship. Neko Case incurred the following transactions during the month of June 2022.
June 1 Neko Case invested $20,000 in cash to start a cleaning and laundry business on June 1.
June 2 Purchased equipment for $5,000 paying $3,000 in cash and the remainder due in 30 days.
June 5 Purchased supplies for $1,200 cash.
June 10 Received a bill from College News for $300 for advertising in the campus newspaper. June 12 Cash receipts from customers for cleaning and laundry amounted to $2,400.
June 20 Billed the Lion Soccer Team $450 for cleaning and laundry services.
June 25 Paid $300 to College News for advertising that was previously billed in Transaction 4. June 28 Neko Case withdrew $1,500 from the business for living expenses.
June 30 Incurred utility expenses for month on account, $500. June 30 Paid salaries of $600 to student workers.
Requirements:
Create related charts of accounts [Please the Excel file for example]
Journalize the above transactions.
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