Question

Eignment Question 1 Mike Greenberg opened Martinez Window Washing Co. on July 1, 2020. During July, the following transactions w July 1 Owner invested $10,800 cash in the company. 1 Purchased used truck for $7,200, paying $1,800 cash and the balance on account. 3 Purchased cleaning supplies for $810 on account. 5 Paid $1,680 cash on a 1-year insurance policy effective July 1. 12 Billed customers $3,330 for cleaning services performed. 18 Paid $900 cash on amount owed on truck and $450 on amount owed on cleaning supplies. 20 Paid $1,800 cash for employee salaries. 21 Collected $1,440 cash from customers billed on July 12. 25 Billed customers $2,250 for cleaning services performed. 31 Paid $260 for maintenance of the truck during month. 31 Owner withdrew $540 cash from the company. (a) Journalize the July transactions. (Credit account titles are automatically indented when the amount is ente Date Account Titles and Explanation Debit Credit July 1 (To record cash invested in the business)

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Answer 1

Journal Entries Date Account Title and Explaination Post. Ref. Debit (S) Credit (S) Jul. 1 $ 10,800.00 Cash Capital (To record cash invested into business) $ 10,800.00 Jul.1 7,200.00 Truck Cash Accounts Payable (To record Truck purchased and part payment made) 1,800.00 5,400.00 Jul.3 810.00 Cleaning Supplies Accounts Payable (To record Cleaning supplies purchased on account) 810.00 Jul.5 1,680.00 Prepaid Insurance Cash (To record Cash paid for 1 year insurance) 1,680.00

Jul.12 $ 3,330.00 Accounts Receivable Service Revenue (To record service provided on account) $ 3,330.00 Jul.18 900.00 450.00 Accounts Payable Accounts Payable Cash (To record partial repayment of dues) $ 1,350.00 Jul.20 1,800.00 Salaries Expense Cash (To record Salaries Expense paid) 1,800.00 $ 1,440.00 Jul.21 Cash Accounts Receivable (To record partial Collection of dues) 1,440.00 Jul.25 2,250.00 Accounts Receivable Service Revenue (To record service provided on account) $ 2,250.00 260.00 Jul.31 Maintenance Expense Cash (To record Truck maintenance expenses paid) 260.00 540.00 Jul.31 Drawings Cash |(To record Cash withdrawn for personal use) 540.00