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Mike Greenberg opened Sheffield Window Washing Co. on July 1, 2022. During July, the following transactions were completed. July 1 1 3 5 12 18

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Mike Greenberg opened Sheffield Window Washing Co. on July 1, 2022. During July, the following transactions were completed. July 1 1 3 5 12 18 Owner invested $12,700 cash in the company, Purchased used truck for $8,480, paying $2,120 cash and the balance on account. Purchased cleaning supplies for $950 on account. Paid $1.920 cash on a 1-year insurance policy effective July 1. Billed customers $3,920 for cleaning services performed. Paid $1,060 cash on amount owed on truck and $530 on amount owed on cleaning supplies. Paid $2.120 cash for employee salaries. Collected $1,700 cash from customers billed on July 12. Billed customers $2,650 for cleaning services performed Pald $310 for maintenance of the truck during month, Owner withdrew $640 cash from the company 20 21 25 31 31 Date July 1 Cash $12,700 Owner's capital $12,700 (To record cash invested in the company) July 1 Equipment $8,480 Cash $2,120 $6,360 Accounts payable (To record purchase of truck partly for cash and partly on account) July 3 $950 Supplies Accounts payable (To record purchase of supplies on account) $950 July 5 Prepaid insurance $1,920 Cash $1.920 (To record payment of insurance for one year in advance) July 12 Accounts receivable 53,920 Service revenue $3.920 (To record billing of services performed) $1,590 July 18 Accounts Payable Cash $1,590 (To record cash paid for account payable) (1060 + 530) $2,120 July 20 Salaries and Wages Expense Cash $2,120 (To record payment of salary) July 21 Cash $1,700 Accounts receivable $1,700 (To record collection of cash from customers) July 25 $2,650 Accounts receivable Service revenue (To record billing of services performed) $2,650 July 31 Maintenance and repairs expense $310 Cash $310 (To record payment of maintenance expense for truck) July 31 Owner's drawings S640 Cash $640 Cash 7/1 12,700 7/1 2,120 7/21 1,700 7/5 1,920 7/18 1,590 7/20 2,120 7/31 310 7/31 640 7/31 Bal. 5,700 Accounts Receivable 7/12 3,920 7/21 1,700 7/25 2,650 7/31 Bal. 4,870 Supplies 7/3 950 7/31 Bal. 950 Prepaid insurance 7/5 1.920 7/31 Bal 1,920 Equipment 7/1 8,480 7/31 Bal. 8,480 Accounts Payable 7/18 1,590 7/1 6,360 7/3 950 7/31 Bal. 5,720 Owner's Capital 7/1 12,700 7/31 Bal. 12,700 Owner's Drawings 7/31 640 7/31 Bal 640 Service Revenue 7/12 3,920 7/25 2,650 7/31 Bal 6,570 Maintenance and Repairs expense 7/31 310 7/31 Bal. 310 Salaries and Wages expense 7/20 2,120 7/31 Bal. 2,120 Debit Credit $ NA Totals $

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