Question 1 Mike Greenberg opened Sheffield Window Washing Inc. on July 1, 2022. During July, the following transactions were completed. July 1 Issued 12,700 shares of common stock for $12,700 cash. 1 Purchased used truck for $8,480, paying $2,120 cash and the balance on account. 3 Purchased deaning supplies for $950 on account. S paid $1,920 cash on a 1-year Insurance policy effective July 1. 12 Billed customers $3,920 for cleaning services performed. 18 Paid $1,060 cash on amount owed on truck and $530 on amount owed on cleaning supplies. 20 paid $2,120 cash for employee salaries. 21 Collected $1,700 cash from customers billed on July 12. 25 Billed customers $2,650 for cleaning services performed. 31 Paid $310 for maintenance of the truck during month. 31 Dedared and paid $640 cash dividend. The chart of accounts for Sheffield Window Washing contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accu -Equipment, Accounts Payable, Salaries and Wages Payable. Common Stock, Retained Earnings, Dividends, Income Summary. Service Revenue, Maintenance Supplies Expense, Depreciation Expense, Insurance Expense, and Salaries and Wages Expense. Debit Credit Sr Date Account Titles and Explanation (1) July 31 Accounts Receivable 1800 Service Revenue 1800 (2) July 31Depreciation Expense 190 Accumulated Depreciation Equipment 190 (3) July 31 Insurance Expense 160 Prepaid Insurance 160 (4) Supplies Expense Supplies (5) July Salaries and Wages Expense 120 Salaries and Wages Payable 20 ment 7/1 7/21 Study Cash 12,700 7/1 1,700 775 7/18 7/20 7/31 7/31 5,700 Accounts Receivable 3,920 7/21 2,120 1,920 1,590 2,120 310 640 7/31 Bal. 7/12 1,700 7/25 2,650 Supplies 7/3 950 2/5 Prepaid Insurance 1.920 signment Equipment 8,480 7/1 7/31 Bal. 8,480 Accumulated Depreciation Equipment Its by Study 7/18 Accounts Payable 1,590 7/1 7/3 7/31 Bal. Salaries and Wages Payable 6,360 950 5,720 Common Stock 7/1 7/21 Bal Dividends 640 12,700 12,700 7/31 Service Revenue NT RESOURCES Hit Assignment rt 7/12 3,920 7/25 2,650 Score Results by Study Maintenance and Repairs Expense 310 7/31 Supplies Expense Depreciation Expense Insurance Expense Salaries and wages Expense URCES ment 7/20 2,120 ay Study