Question
Oriole Clark opened Oriole's Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 Oriole invested $20,100 cash in
Oriole Clark opened Oriole's Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 Oriole invested $20,100 cash in the business. 1 Purchased used equipment for $8,900, paying $3,900 cash and the balance on account. 3 Purchased cleaning supplies for $2,000 on account. 5 Paid $1,920 cash on a 1-year insurance policy effective July 1. 12 Billed customers $4,500 for cleaning services. 18 Paid $1,600 cash on amount owed on truck and $1,300 on amount owed on cleaning supplies. 222 Paid $2,500 cash for employee salaries. 20 21 Collected $3,500 cash from customers billed on July 12. 25 Billed customers $6,000 for cleaning services. 31 Paid $340 for monthly utilitiy bill for the equipment. (Use Utilities Expense.) 31 Withdraw $5,500 cash for personal use.
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