Katie Gage opened New View Window Washing Inc. on July 1, 2007. During July the following transactions were completed.
July 1Issued 11,000 shares of common stock for $11,000 cash.
1
Purchased used truck for $9,000, paying $3,000 cash and the balance on account.
3
Purchased cleaning supplies for $800 on account.
5
Paid $1,440 cash on 1-year insurance policy effective July 1.
12
Billed customers $3,200 for cleaning services.
18
Paid $1,000 cash on amount owed on truck and $500 on amount owed on cleaning supplies.
20
Paid $2,000 cash for employee salaries.
21
Collected $1,400 cash from customers billed on July 12.
25
Billed customers $2,000 for cleaning services.
31
Paid $260 for gas and oil used in the truck during month.
31
Declared and paid $600 cash dividend.
The chart of accounts for New View Window Washing contains the following accounts: Cash, Accounts Receivable, Cleaning Supplies, Prepaid Insurance, Equipment, Accumulated
Depreciation??Equipment, Accounts Payable, Salaries Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Gas & Oil Expense, Cleaning Supplies Expense, Depreciation Expense, Insurance Expense, Salaries Expense.
- Use the Entries menu to journalize the July entries
July 1Issued 11,000 shares of common stock for $11,000 cash.
1
Purchased used truck for $9,000, paying $3,000 cash and the balance on account.
3
Purchased cleaning supplies for $800 on account.
5
Paid $1,440 cash on 1-year insurance policy effective July 1.
12
Billed customers $3,200 for cleaning services.
18
Paid $1,000 cash on amount owed on truck and $500 on amount owed on cleaning supplies.
20
Paid $2,000 cash for employee salaries.
21
Collected $1,400 cash from customers billed on July 12.
25
Billed customers $2,000 for cleaning services.
31
Paid $260 for gas and oil used in the truck during month.
31
Declared and paid $600 cash dividend.
The chart of accounts for New View Window Washing contains the following accounts: Cash, Accounts Receivable, Cleaning Supplies, Prepaid Insurance, Equipment, Accumulated
Depreciation??Equipment, Accounts Payable, Salaries Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Gas & Oil Expense, Cleaning Supplies Expense, Depreciation Expense, Insurance Expense, Salaries Expense.
- Use the Entries menu to journalize the July entries