Problem 4-8A (Part Level Submission) Mike Greenberg opened Clean Window Washing

Question

Problem 4-8A (Part Level Submission) Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. During July, the following transactions were completed July July Issu uly Issued 16,699 shares of common stock for $16,699 cash 1 Purchased used truck for $12,699, paying $2,092 cash and the balance on account. 3 Purchased cleaning supplies for $925 on account. 5 Paid $2,400 cash on a 1-year insurance policy effective July 1. 12 Billed customers $4,900 for cleaning services. 18 Paid $1,107 cash on amount owed on truck and $543 on amount owed on cleaning supplies 20 Paid $2,024 cash for employee salaries. 21 Collected $1,662 cash from customers billed on July 12. 25 Billed customers $2,705 for cleaning services. 31 Paid $379 for maintenance of the truck during month. 31 Declared and paid $640 cash dividend.

Explanation / Answer

1july cash Dr.$16699

To common stock 16699

1 Truck Dr.$12699

To cash 2092

To accounts payable 10607

3. supplies Dr.925

To Accounts payable 925

5 insurance Dr.$2400

To cash 2400

12 accounts recievable Dr$ 4900

To service revenue 4900

18 Accounts payable Dr.$1650

To cash 1650

20 salaries Dr,$2024

To cash 2024

21 cash Dr.$1662

To accounts receivable $1662

25. Accounts receivable Dr.2705

To service revenue 2705

31 repair and maintenance Dr. 379

To cash 379

31 dividend Dr.$640

To cash 640

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