Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sunland Clark opened Sunlands Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 Sunland invested $ 20,100 cash in

Sunland Clark opened Sunlands Cleaning Service on July 1, 2022. During July, the following transactions were completed.

July 1 Sunland invested $ 20,100 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 $ 1,920 cash on a 1-year insurance policy effective July 1.
12 Billed customers $ 4,600 for cleaning services.
18 Paid $ 1,600 cash on amount owed on truck and $ 1,400 on amount owed on cleaning supplies.
20 Paid $ 2,600 cash for employee salaries.
21 Collected $ 3,300 cash from customers billed on July 12.
25 Billed customers $ 6,100 for cleaning services.
31 Paid $ 350 for the monthly gasoline bill for the truck.
31 Withdraw $ 5,700 cash for personal use.

(a1)

Journalize 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 0 for the amounts.)

Date

Account Titles and Explanation

Debit

Credit

choose a transaction date July 1July 3July 5July 12July 18July 20July 21July 25July 31

enter an account title to record cash invested in business

enter a debit amount

enter a credit amount

enter an account title to record cash invested in business

enter a debit amount

enter a credit amount

(To record cash invested in business)

choose a transaction date July 1July 3July 5July 12July 18July 20July 21July 25July 31

enter an account title to record truck purchased

enter a debit amount

enter a credit amount

enter an account title to record truck purchased

enter a debit amount

enter a credit amount

enter an account title to record truck purchased

enter a debit amount

enter a credit amount

(To record truck purchased)

choose a transaction date July 1July 3July 5July 12July 18July 20July 21July 25July 31

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date July 1July 3July 5July 12July 18July 20July 21July 25July 31

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date July 1July 3July 5July 12July 18July 20July 21July 25July 31

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date July 1July 3July 5July 12July 18July 20July 21July 25July 31

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date July 1July 3July 5July 12July 18July 20July 21July 25July 31

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date July 1July 3July 5July 12July 18July 20July 21July 25July 31

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date July 1July 3July 5July 12July 18July 20July 21July 25July 31

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date July 1July 3July 5July 12July 18July 20July 21July 25July 31

enter an account title to record gasoline expense

enter a debit amount

enter a credit amount

enter an account title to record gasoline expense

enter a debit amount

enter a credit amount

(To record gasoline expense)

choose a transaction date July 1July 3July 5July 12July 18July 20July 21July 25July 31

enter an account title to record drawings

enter a debit amount

enter a credit amount

enter an account title to record drawings

enter a debit amount

enter a credit amount

(To record drawings)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

BondsA Concise Guide For Investors

Authors: M. Choudhry

2nd Edition

0230006493, 9780230006492

More Books

Students also viewed these Accounting questions

Question

Explain the need for a new field of financial therapy.

Answered: 1 week ago

Question

Do you set targets to reduce complaints?

Answered: 1 week ago