Question 1 of 1 > -720 E View Policies Current Attempt in Progress Pharoah Clark opened Pharoah's Cleaning Service on July 1, 2022. During July, the following transactions were completed July 1 Pharoah invested $20.200 cash in the business. 1 Purchased used truck for $9.100, paying $3,800 cash and the balance on account. 3 Purchased cleaning supplies for $1.900 on account 5 Paid $1,680 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 51.400 on amount owed on cleaning supplies 20 Paid $2.600 cash for employee salaries, 21 Collected $3,500 cash from customers billed on July 12 25 Billed customers $5.900 for cleaning services. 31 Paid $360 for the monthly gasoline bill for the truck. 31 Withdraw $5.600 cash for personal use. (a 1) Journaline the July transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually Record journal entries in the order displayed in the problem. If no entry is required, select "No Entry for the account titles and enter for the amounts) Credit Debit Date Account Titles and Explanation Question 1 of 1 Date Account Tides and Explanation Debit Credi To record con invested in its Torecard truck purchased (turp Post the July transactions. (Post entries in the order of journal entries posted above.) Cash No. 101 Date Explanation Debit Credit Balance Accounts Receivable No. 112 Date Explanation Debit Credit Balance Question 1 of 1 - /20 III Supplies No. 126 Date Explanation Debit Credit Balance Prepaid Insurance No. 130 Date Explanation Debit Credit Balance Equipment No. 157 Date Explanation Debit Credit Balance Accounts Payable No. 201 Date Explanation Debit Credit Credit Balance Owner's Capital No. 301 Credit Date Debit Balance Explanation Owner's Drawings No. 306 Credit Date Debit Balance Explanation Question 1 of 1 > - /20 Service Revenue No. 400 Date Explanation Debit Credit Balance Gasoline Expense No. 633 Date Explanation Debit Credit Credit Balance Salaries and Wages Expense No. 726 Date Explanation Debit Balance Credit e Textbook and Media PHAROAH'S CLEANING SERVICE Income Statement I $ $ $ e Textbook and Media List of Account Prepare the owner's equity statement for July. (List items that increase owner's equity first.) PHAROAH'S CLEANING SERVICE Owner's Equity Statement e Textbook and Media List of counts Prepare a classified balance sheet at July 31 (List Current Assets in order of liquidity) PHAROAH'S CLEANING SERVICE Balance Sheet Assets $ V v Liabilities and Owner's Equity > > Textbook and Media List of Account Auf und (e1) Journalize adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit TE (To record revenue eamed) > (To record depreciation) (To record insurance expired) (To record supplies used) (To record salaries payable) e Textbook and Media List of Accounts Attempts Of Sused Sumt Anw enterco. Do not indent manually. Record journal entries in the order displayed in the problem.) Date Account Titles and Explanation Debit Credit (To close revenue account) (To close expense accounts) (To close net income / (loss)) -120 Question 1 of 1 = Post closing entries (Post entries in the order of journal entries posted above Cash No. 101 Date Explanation Debit Credit Balance July 1 20.200 20.200 July 1 3.800 16.400 July 5 1,680 14,720 July 18 3.000 11,720 July 20 2.600 9.120 July 21 3.500 12 620 July 31 360 12.260 July 31 5.600 6,660 Accounts Receivable No. 112 Date Explanation Debit Credit Balance Balance July 12 4,500 4.500 July 21 3.500 1000 July 25 5.900 6.900 July 31 Adjusting 2.000 9.500 Supplies No. 126 Date Explanation Debit Credit Balance July 1.900 1.900 July 31 Adjusting 1.200 700 Prepaid Insurance No. 130 Date Explanation Debit Credit Balance July 5 1680 BASO July 31 Adjusting 1.540 Equipment No. 157 Date Explanation Debit Credit Balance 1 1.100 100 Accumulated Depreciation Equipment Explanation No. 156 Date Det Credit Balance Acting 400 400 Accounts Payable No. 200 Date Esplanation De Credit Balance 1500 200 0 Salaries and Wages Payable Na 213 Dulle CH Balance Question 1 of 1 - / 20 expanoon UE VENE July 31 Adjusting 1,050 1,050 Owner's Capital No. 301 Date Explanation Debit Credit Balance July 1 20.200 20.200 Cosing Cosing Owner's Drawings No. 300 Date Explanation Debit Credit Balance Xy31 5.000 5.600 Cosing Income Summary No 350 Date Explanation Debit Credit Balance Cosino Going Cosmo Service Revenue Ne 40 Date Explanation ) Det Cred Balance Ny 12 900 July 25 500 15.00 2600 TO Gaseline pense NG Date Explanation Dabar Cred Balance Supplies Expanse Det Crede Balance Con 13 | GO Closing Insurance Expense No. 722 Date Explanation Debit Credit Balance July 31 Adjusting 140 140 Closing Salaries and Wages Expense No. 726 Date Explanation Debit Balance Credit 2.600 2,600 July 20 3.650 July 31 1.050 Adjusting V Closing e Textbook and Media List of Accounts Attempts: 0 of 5 used Submit Answer Save for Later PHAROAH'S CLEANING SERVICE Post-Closing Trial Balance Debit Credit INI LLLOOOO Totals e Textbook and Media List of Accounts
