Question

Mike Greenberg opened Indigo Window Washing Co.on July 1, 2020. During July, the following transactions were completed. July 1 1 3 5 12 18 Owner invested $13,900 cash in the company. Purchased used truck for $9,280, paying $2,320 cash and the balance on account. Purchased cleaning supplies for $1,040 on account. Paid $2,040 cash on a 1-year insurance policy effective July 1. Billed customers $4,290 for cleaning services performed. Paid $1,160 cash on amount owed on truck and $580 on amount owed on cleaning supplies. Paid $2,320 cash for employee salaries. Collected $1,860 cash from customers billed on July 12. Billed customers $2,900 for cleaning services performed. Paid $340 for maintenance of the truck during month. Owner withdrew $700 cash from the company. 20 21 25 31 31

Answer 1

Requirement:

Cash
Jul-01	$ 13,900	Jul-01	$    2,320
Jul-21	$    1,860	Jul-05	$    2,040
		Jul-18	$    1,240
		Jul-20	$    2,320
		Jul-31	$       340
		Jul-31	$       700
End.bal	$   6,800
Accounts receivable
Jul-12	$    4,290	Jul-21	$    1,860
Jul-25	$    2,900
End.bal	$   5,330
Supplies
Jul-03	$    1,040
End bal	$   1,040
Prepaid insurance
Jul-05	$    2,040
End.bal	$   2,040
Equipment
Jul-01	$    9,280
End.bal	$   9,280
Accounts payable
Jul-18	$    1,240	Jul-01	$    6,960
		Jul-03	$    1,040
		End.bal	$   6,760
Owners capital
		Jul-01	$ 13,900
		End bal	$ 13,900

Owners drawings
Jul-31	$       700
End.bal	$       700
Service revenue
		Jul-12	$    4,290
		Jul-25	$    2,900
		End.bal	$   7,190
Maintenance and repairs expense
Jul-31	$       340
End bal	$       340
Salaries and wages expense
Jul-20	$    2,320
End.bal	$   2,320

Answer 2

PostGeneral Ledger