View Policies Show Attempt History Current Attempt in Progress 1 1 5 Lee Chang opened Lee's Window Washing on July 1, 2021. In July, the following transactions were completed: July 1 Invested $20,000 cash in the business. Purchased a used truck for $25,000, paying $5,000 cash and signing a note payable for the balance. Paid $2,800 on a one-year Insurance policy, effective July 1. Billed customers $3,300 for cleaning services. 12 Purchased supplies for $2,100 on account 18 Paid $3,000 for employee salaries. 25 Billed customers $8.900 for cleaning services. 28 Collected $3,300 from customers billed on July 5. Paid $550 for repairs on the truck. 31 Withdrew $2,600 cash for personal use. 31 - Your answer is partially correct. Journalize and post the July transactions to the general ledger. (Credit account titles are automatically indented when amount is Your answer is partially correct. Journalize and post the July transactions to the general ledger. (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. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit July 1 Cash L. Chang. Capital (To record cash invested in the business) Vehicles July 1 Cash Notes Payable (To record purchase of truck) Question 0.89/3 !!! Cooper (To record payment of insurance) [ 0 0 search o acer Y N Z (To record payment of fuel) (To record cash withdrawal for personal use) Cash Debit Credit Balance Date Explanation Ref. July 1 J1 1 J1 1 J1 18 J1 28 11 0.89 13 Cash Date Explanation Ref. July 1 J1 Debit Credit Balance 1 J1 1 J1 18 J1 28 J1 31 J1 31 J1 Accounts Receivable Debit Credit Balance Date Explanation Ref. uly 5 J1 25 J1 28 J1 Summer Date Supplies Explanation Ref. J1 Debit July 12 Credit Balance Date Explanation Ref. Prepaid Insurance Debit Credit July 1 Balance J1 Vehicles Date Explanation Ref. Debit Credit Balance July 1 J1 Date Accounts Payable Debit Explanation Ref. J1 Credit Balance July 12 Notes Payable Debit Date Explanation Ref. Credit Balance July 1 J1 L. Chang, Capital Debit Date Explanation Ref. Credit Balance July 1 J1 L. Chang, Drawings Dehit Date Fynlanation Ref Credit Ralance SAPianon RET. Debit Credit Balance July 12 J1 Date Explanation Ref. Notes Payable Debit Credit Balance July 1 J1 Date L. Chang, Capital Debit Explanation Ref. Credit Balance July 1 J1 L. Chang, Drawings Debit Date Explanation Ref. Credit Balance July 31 J1 Service Revenue Debit Date Explanation Ref. Credit Balance July 5 J1 25 J1 Repairs Expense Debit Credit Balance Date Explanation Ref. Date Explanation Ref. L. Chang, Drawings Debit Credit July 31 Balance J1 Date Explanation Ref. Service Revenue Debit Credit Balance July 5 J1 25 J1 Repairs Expense Debit Date Credit Balance Explanation Ref. J1 July 31 Salaries Expense Debit Date Explanation Ref. Credit Balance July 18 J1 Prepare a trial balance at July 31. LEE'S WINDOW WASHING Trial Balance July 31. 2021 Debit Credit Cash 9350 Vehicles 25000 Notes Payable 20000 Prepaid Insurance 2800 Accounts Receivable 8900 Service Revenue 12200 Supplies 2100 Prepaid Insurance 2800 Accounts Receivable 8900 Service Revenue 12200 Supplies 2100 Accounts Payable 2100 L. Chang. Capital 2000 L. Chang, Drawings 2600 Repairs Expense 550 Salaries Expense 3000 $ Totals 54300 54300 $ Your answer is partially correct. Journalize and post the following July 31 adjustments: (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. Round answers to decimal places, eg. 5,276) 1. 2 3 4 5. 6. Services of $1.500 were provided but remained unbilled and uncollected at July 31. The truck has an estimated useful life of five years, One twelfth of the insurance expired. An inventory count shows $700 of supplies on hand at July 31. Accrued but unpaid employee salaries were $800. The note payable has a 5.5% annual interest rate. Date Account Titles and Explanation Debit Credit July 31 Accounts Receivable 1500 1500 Service Revenue (To accrue revenue earned but not billed or collected) Depreciation Expense July 31 July 31 Insurance Expense 233 Prepaid Insurance 233 (To record insurance expired) Supplies Expense July 31 1400 Supplies 1400 (To record supplies used) Salaries Expense July 31 800 Salaries Payable 800 (To record accrued salaries) Interest Expense July 31 91 Interest Payable (To record accrued interest) 91 Date Cash Debit 20.000 Explanation Ref. J1 Credit July 1 Balance 20.00 Explanation Ref. J1 J1 Cash Debit 20,000 Credit Date July 1 1 1 18 28 31 31 J1 5.000 2,800 3,000 J1 J1 J1 Balance 20,000 15,000 12,200 9,200 12,500 11,950 9,350 3,300 J1 550 2,600 Date July 5 25 Explanation Ref. J1 Accounts Receivable Debit Credit 3,300 8.900 Balance J1 J1 3.300 12.200 8.900 28 3,300 31 Adjusting J2 1500 10400 Supplies Debit Credit Balance 2,100 2.100 Date Explanation Ref. July 12 J1 31 Adjusting J2 1400 700 2,100 31 Adjusting J2 2,100 1400 700 Prepaid Insurance Debit 2.800 Credit Date Explanation Ref. J1 31 Adjusting J2 July 1 Balance 2.800 Date Explanation Ref. J1 Credit July 1 Vehicles Debit 25,000 Accumulated Depreciation-Vehicles Debit Credit Balance 25.000 Date Explanation Ref. July 31 Adjusting J2 Balance 233 2567 Accounts Payable Debit Date July 12 Explanation Ref. J1 Credit 2.100 Balance 2.100 Salaries Payable Debit Credit Balance Date Explanation Ref. July 31 Adjusting J2 800 800 Interest Payable Debit Date Balance Explanation Ref. Credit 91 91 July 31 Adiusting J2 91 Date July 1 Explanation Ref. J1 Notes Payable Debit Credit 20,000 Balance 20,000 Date July 1 Explanation Ref. J1 L. Chang, Capital Debit Credit 20,000 Balance 20,000 Date July 31 Explanation Ref. J1 Credit L. Chang, Drawings Debit 2,600 Service Revenue Debit Balance 2,600 Credit Balance Date Explanation Ref. July 5 J1 25 J1 31 Adjusting J2 3,300 8.900 3,300 12,200 1500 13700 Explanation Credit Date July 31 Ref. J1 Balance 550 Repairs Expense Debit 550 Salaries Expense Debit 3,000 Credit Balance Date July 18 Explanation Ref. J1 3,000 3800 31 Adjusting J2 800 July 18 JI 3,000 3,000 31 Adjusting J2 800 3800 Balance Date Explanation Ref. July 31 Adjusting J2 Supplies Expense Debit Credit 1400 Depreciation Expense Debit Credit 1400 Balance Date Explanation Ref. July 31 Adjusting J2 Insurance Expense Debit Credit Balance Date Explanation Ref. July 31 Adjusting J2 233 233 Interest Expense Debit Credit Balance Date Explanation Ref. July 31 Adjusting J2 91 91 e Textbook and Media repare a djusted triar balance. (Round answers to decimal places, eg. 5,276.) LEE'S WINDOW WASHING Adjusted Trial Balance July 31, 2021 Debit Credit Cash 9350 Accounts Receivable 10400 Supplies 700 Prepaid Insurance 2567 Vehicles 25000 Accounts Payable 2100 > 2600 13700 > 0.8913 Accounts Payable 2100 2600 13700 L. Chang. Drawings 2600 Service Revenue 13700 Repairs Expense 550 Salaries Expense 3800 Supplies Expense 1400 Insurance Expense 233 Interest Expense 91 Accumulated Depreciation - Vehicles Depreciation Expense Totals O Question 2 of 3 0.89/3 E x Your answer is incorrect. Prepare the income statement for July. LEE'S WINDOW WASHING Income Statement $ $ 0.8973 $ > $ e Textbook and Media * Your answer is incorrect. Journalize and post the closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round answers to decimal places, eg. 5,276.) Date Account Titles and Explanation Debit Credit Question 2 of 3 0.8973 X Your answer is incorrect. Journalize and post the closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts. Round answers to decimal places eg. 5,276.) Date Account Titles and Explanation Debit Credit July 31 (To close revenue account) July 31 Question 2 of 3 0.8913 (To close expense accounts) July 31 (To close profit to capital) July 31 (To close drawings account) (If the ending balance is O enter it in the Balance column. All boxes in the Balance column must have an answer.) Cash Dobit Credit Balance Question 2 of 3 (if the ending balance is O enter it in the Balance column. All boxes in the Balance column must have an answer 0.89/3 Date July 1 1 1 Cash Debit 20,000 Credit Explanation Ref. J1 J1 J1 J1 J1 18 5,000 2,800 3,000 Balance 20,000 15,000 12.200 9,200 12.500 11.950 9,350 3,300 28 31 31 J1 J1 550 2,600 Accounts Receivable Debit 3,300 8.900 Date Explanation Ref. July 5 J1 25 J1 28 J1 31 Adjusting J2 Credit Balance 3,300 12.200 8.900 10,400 3,300 1.500 Supplies Debit 2.100 Credit Date Explanation Ref. July 12 J1 31 Adjusting J2 Balance 2.100 700 1.400 Credit Date Prepaid Insurance Debit 2.800 Explanation Ref. J1 Balance 2.800 July 1 O 0.8973 III sury 31 Adjusting J2 1,400 700 Prepaid Insurance Debit 2,800 Date Explanation Ref. July 1 J1 31 Adjusting J2 Credit Balance 2,800 2567 233 Date Explanation Ref. July 1 J1 Credit Vehicles Debit 25.000 Accumulated Depreciation-Vehicles Debit Balance 25,000 Date Explanation Ref. July 31 Adjusting J2 Credit 417 Balance 417 Accounts Payable Debit Date July 12 Explanation Ref. J1 Credit 2.100 Balance 2.100 Salaries Payable Debit Date Explanation Ref. July 31 Adjusting J2 Credit 800 Balance 800 Interest Payable Debit Date Explanation Ref. July 31 Adjusting J2 Credit 92 Balance 92 Notes Payable Debit Date July 1 Explanation Ref. J1 Credit 20,000 Balance 20.000 July 12 0.89 13 III 2,100 Date Explanation Ref. July 31 Adjusting J2 Salaries Payable Debit 2.100 Credit 800 Balance 800 Date Explanation Ref. July 31 Adjusting J2 Interest Payable Debit Credit 92 Balance 92 Date July 1 Explanation Ref. J1 Notes Payable Debit Credit 20,000 Balance 20,000 L. Chang, Capital Debit Credit Date Explanation Ref. July 1 J1 31 Closing J3 Balance 20.000 20.000 31 Closing J3 Ref. J1 L. Chang, Drawings Debit 2.600 Credit Date Explanation July 31 31 Closing Balance 2,600 J3 Income Summary Debit Date Explanation Ref. Credit Balance Debit July 31 Closing Credit J3 Balance 31 Closing J3 31 Closing J3 Service Revenue Debit Credit Balance Date Explanation Ref. July 5 J1 25 J1 31 Adjusting J2 31 Closing J3 3,300 8.900 1,500 3,300 12,200 13,700 Repairs Expense Debit 550 Credit Balance Date Explanation Ref. July 31 J1 31 Closing J3 550 Credit Balance Date Explanation Ref. July 18 J1 31 Adjusting J2 31 Closing J3 Salaries Expense Debit 3.000 800 3.000 3,800 31 Adjusting 31 Closing J2 3,000 800 J3 3,000 3,800 Date Explanation Ref. July 31 Adjusting J2 31 Closing J3 Supplies Expense Debit 1.400 Credit Balance 1.400 Date Explanation Ref. July 31 Adjusting J2 31 Closing J3 Depreciation Expense Debit Credit 417 Balance 417 Insurance Expense Debit 233 Credit Date Explanation Ref. July 31 Adjusting J2 31 Closing J3 Balance 233 Interest Expense Debit 92 Credit Date Explanation Ref. July 31 Adjusting J2 31 Closing Balance 92 52 Question 2 of 3 0.89/3 Date Explanation Ref. July 31 Adjusting J2 31 Closing J3 Insurance Expense Debit 233 Credit Balance 233 Interest Expense Debit 92 Date Explanation Ref. July 31 Adjusting J2 31 Closing J3 Credit Balance 92 e Textbook and Media x Your answer is incorrect. Prepare a post-closing trial balance at July 31. (Do not list those accounts that have zero ending balance. Round answers to decimal places, eg. 5,276.) LEE'S WINDOW WASHING Post-Closing Trial Balance ch ME Smework Assignment tommy hilfiger men Question 2 of 3 0.8973 !!! LEE'S WINDOW WASHING Post-Closing Trial Balance Debit Credit $ $ Total Question 2 of 3