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Please help me prepare a post closing trial balance at July 31st using the original and adjusted transactions. Mike Greenberg opened Blue Window Washing Co.
Please help me prepare a post closing trial balance at July 31st using the original and adjusted transactions.
Mike Greenberg opened Blue Window Washing Co. on July 1, 2022. During July, the following transactions were completed. July 1 Owner invested $14,600 cash in the company. 1 Purchased used truck for $9,760, paying $2,440 cash and the balance on account. 3 Purchased cleaning supplies for $1,100 on account. 5 Paid $2,160 cash on a 1-year insurance policy effective July 1. 12 Billed customers $4,510 for cleaning services performed. 18 Paid $1,220 cash on amount owed on truck and $610 on amount owed on cleaning supplies. 20 Paid $2,440 cash for employee salaries. 21 Collected $1,950 cash from customers billed on July 12. 25 Billed customers $3,050 for cleaning services performed. 31 Paid $350 for maintenance of the truck during month. 31 Owner withdrew $730 cash from the company. Your answer is partially correct. Journalize the following adjustments. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) 1. Services performed but unbilled and uncollected at July 31 were $2,070. 2. Depreciation on equipment for the month was $220. 3. One-twelfth of the insurance expired. 4. A count shows $390 of cleaning supplies on hand at July 31 . 5. Accrued but unpaid employee salaries were $490. BLUE WINDOW WASHING CO. Post-Closing Trial Balance Credit $ 1 $Step by Step Solution
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