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Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.) Cash Accounts Receivable Supplies Prepaid Insurance
Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.) Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Owner's Capital Owner's Drawings Service Revenue Maintenance and Repairs Expense Salaries and Wages Expense Mike Greenberg opened Culver Window Washing Co. on July 1, 2022. During July, the following transactions were completed. July 1 Owner invested $13,400 cash in the company. 1 Purchased used truck for $8,960, paying $2,240 cash and the balance on account. 3 Purchased cleaning supplies for $1,010 on account. 5 Paid $2,040 cash on a 1-year insurance policy effective July 1. 12 Billed customers $4,140 for cleaning services performed. 18 Paid $1,120 cash on amount owed on truck and $560 on amount owed on cleaning supplies. 20 Paid $2,240 cash for employee salaries. 21 Collected $1,790 cash from customers billed on July 12. 25 31 Billed customers $2,800 for cleaning services performed. Paid $320 for maintenance of the truck during month. 31 Owner withdrew $670 cash from the company. Date July 1 Account Titles and Explanation Cash Owner's Capital (To record cash invested in the business) July 1 Equipment Cash Accounts Payable ($8,960-$2,240) (To record purchase of truck) July 3 Supplies Accounts Payable (To record purchase of supplies) July 5 Prepaid Insurance Cash (To record payment for insurance policy) July 12 Accounts Receivable Service Revenue (To record services performed on account) Debit $13,400 Credit $13,400 $8,960 $2,240 $6,720 $1,010 $1,010 $2,040 $2,040 $4,140 $4,140 July 18 Accounts Payable ($1,120+$560) Cash (To record payment to accounts payable) July 20 Salaries and Wages Expense Cash (To record payment of salaries) July 21 Cash July 25 July 31 July 31 Accounts Receivable (To record collection from customers) Accounts Receivable Service Revenue (To record services performed on account) Maintenance and Repairs Expense Cash (To record maintenance of truck) Owner's Withdrawals Cash (To record owner withdrawals) $1,680 $1,680 $2,240 $2,240 $1,790 $1,790 $2,800 $2,800 $320 320 $670 $670
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