Tricies Show Attempt History Current Attempt in Progress Ivanhoe Clark opened Ivanhoe's Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 1 3 5 12 18 20 21 (1) 25 31 31 Ivanhoe invested $20,000 cash in the business. Purchased used truck for $8,900, paying $4,000 cash and the balance on account. Purchased cleaning supplies for $2,300 on account. Paid $1,920 cash on a 1-year insurance policy effective July 1. Billed customers $4,500 for cleaning services. Paid $1,500 cash on amount owed on truck and $1,400 on amount owed on cleaning supplies. Paid $2,500 cash for employee salaries. Collected $3,300 cash from customers billed on July 12. Billed customers $5,900 for cleaning services. Paid $360 for the monthly gasoline bill for the truck. Withdraw $5,600 cash for personal use. Date > > > > H Account Titles and Explanation (To record cash invested in business) (To record truck purchased) (To record gasoline expense) (To record drawings) C Debit Credit UOL JUU DU Prepare a trial balance at July 31 on a worksheet. Enter the following adjustments on the worksheet and complete the worksheet. (1) Unbilled and uncollected revenue for services performed at July 31 were $2,600. Depreciation on equipment for the month was $400. One-twelfth of the insurance expired. An inventory count shows $500 of cleaning supplies on hand at July 31. Accrued but unpaid employee salaries were $1,010. (2) (3) (4) (5) Cash Account Titles Accounts Receivable. Supplies Prepaid Insurance Equipment Accounts Payable Owner's Capital Owner's Drawings Service Revenue Gasoline Expense Salaries and Wages Expense Totals Depreciation Expense Accum. Depr.-Equipment Insurance Expense Supplies Expense Salaries and Wages Payable Totals Net Income $ Dr. Trial Balance $ Cr. Dr. Prepare the income statement for July. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) eTextbook and Media List of Accounts Save for Later (d2) - Your answer is partially correct. IVANHOE'S CLEANING SERVICE Income Statement $ $ $ Attempts: 0 of 5 used Submit Answer