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The main provlem is photos 1 and please answer the photos 2-5. Thank you. Sparkling Clean Dry Cleaners Inc. began operations on January 1, 2020.

The main provlem is photos 1 and please answer the photos 2-5. Thank you. image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Sparkling Clean Dry Cleaners Inc. began operations on January 1, 2020. In its first year, the following transactions occurred: 1. Issued common shares for $180,000 cash. 2. Purchased dry cleaning equipment for $83.000 cash. 3. Purchased cleaning supplies, on account, for $9.400. 4. Used $8,400 of the supplies in cleaning operations. 5. Collected $133,000 from customers for dry cleaning services provided. 6. Borrowed $15,000 from the bank on July 1, 2020, at an interest rate of 8% per year. (Use Bank Loan Payable) 7. Paid wages of $49,800 to employees. In addition to this $1.000 of wages were owed to employees at the end of the year. 8. Depreciated the equipment by $3,000 for the year. 9. Paid $26,000 for utilities (telephone, electricity, and water). 10. On December 31, paid interest on the bank loan described in transaction 6. 1 Photos 1 Photos a Prepare journal entries to record each of the above transactions Credit account titles are automatically indented when the amount is entered. Do not inden mally. If no estry is required, select "No Entry for the account titles and enter for the amounts. No Account Titles and Explanation Credi Cash 180.000 Common Shares 380000 2 E Cash 83000 3. Supplies NDO Account Payable 944 Supplies Expense 8400 Supplies 8400 Cash 133000 Service Home 133000 6. Cach 15000 Sarkable 15000 7 Wages Expense SOCO Cat 49800 Wisable 3000 Depreciation Expense 3000 Accumulated Depreciation Eventen 3000 Utilities to 26000 Cash 26000 10 Interest Expert 600 Cash 600 Photos Turnaliraries to the latest Tacourt. Patri theatera din the hegninger in the color them here) can Shoes Andre Acces Pop We Common Shares Service Revenue Photos to 4 Depreciation Expense Interest Expense Supplies Expense Utilities Expense Wages Expense Photos 45 Prepare a December 31, 2020, trial balance. (Do not list those accounts that have zero ending balance.) Sparkling Clean Dry Cleaners Inc. Trial Balance December 31, 2020 Debit Credit Totals

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