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On July 1, 2023, Academic Learning Services entered its second month of operations. On July 31, 2023, Breanne Allarie, the owner, finalized the companys records
On July 1, 2023, Academic Learning Services entered its second month of operations. On July 31, 2023, Breanne Allarie, the owner, finalized the companys records that showed the following items. Accounts payable $ 2,700 Accounts receivable 4,400 Cash 4,000 Computer equipment 4,600 Furniture 4,200 Breanne Allarie, capital, June 30, 2023* 17,000 Office rent expense 4,900 Owners investments during July 2023 3,600 Owners withdrawals 3,400 Supplies 2,240 Textbook rental revenue 540 Tutoring revenue 6,600 Tutors wages expense 1,780 Utilities expense 920 *Hint: The ending capital balance for one period is the beginning capital balance for the next period. Use the above information to prepare a July income statement
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