Lee Chang opened Cullumber's Window Washing on July 1, 2021. In July, the following transactions were completed: July 1 Invested $26,000 cash in the business. 1 Purchased a used truck for $25,200, paying $5,200 cash and signing a note payable for the balance. 1 Paid $2,800 on a one-year insurance policy, effective July 1. 5 Billed customers $3,900 for cleaning services. 12 Purchased supplies for $2,100 on account. 18 Paid $3,000 for employee salaries. 25 Billed customers $9,200 for cleaning services. 28 Collected $3,900 from customers billed on July 5. 31 Paid $550 for repairs on the truck. 31 Withdrew $1,700 cash for personal use. Journalize and post the July transactions to the general ledger
Lee Chang opened Cullumber's Window Washing on July 1, 2021. In July, the following transactions were completed: July 1 Invested $26,000 cash in the business. 1 Purchased a used truck for $25,200, paying $5,200 cash and signing a note payable for the balance. 1 Paid $2,800 on a one-year insurance policy, effective July 1. 5 Billed customers $3,900 for cleaning services. 12 Purchased supplies for $2,100 on account. 18 Paid $3,000 for employee salaries. 25 Billed customers $9,200 for cleaning services. 28 Collected $3,900 from customers billed on July 5. 31 Paid $550 for repairs on the truck. 31 Withdrew $1,700 cash for personal use. Journalize and post the July transactions to the general ledger
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter1: Business Transactions (ptrans)
Section: Chapter Questions
Problem 4R: On June 1 of the current year, Wilson Wood opened Woodys Web Services. This sole proprietorship had...
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Lee Chang opened Cullumber's Window Washing on July 1, 2021. In July, the following transactions were completed:
July 1 | Invested $26,000 cash in the business. | |
1 | Purchased a used truck for $25,200, paying $5,200 cash and signing a note payable for the balance. | |
1 | Paid $2,800 on a one-year insurance policy, effective July 1. | |
5 | Billed customers $3,900 for cleaning services. | |
12 | Purchased supplies for $2,100 on account. | |
18 | Paid $3,000 for employee salaries. | |
25 | Billed customers $9,200 for cleaning services. | |
28 | Collected $3,900 from customers billed on July 5. | |
31 | Paid $550 for repairs on the truck. | |
31 | Withdrew $1,700 cash for personal use. |
Journalize and
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