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ory Bookmarks People Window Help yPLUS cure https:/ledugen.wileyplus.com/edugen/student/mainfr.uni xWileyPLUS kimmel, Accounting,be &Practice; Gradebook ORION Downloadable eTextbook Assignment CALcuLATOR FULL SCREEN PRINTER VERSON -BACK NEXT ces Comprehensive Accounting Cycle Review 4-1 (Part Level Submission) completed. July 1 Issued 10,800 shares of common stock for $10,800 cash. Mike Greenberg opened Martinez Window Washing Inc. on July 1, 2017. During July, the following transactions were 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 Coilected $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 Declared and paid $540 cash dividend. dy The chart of accounts for Martinez Window Prepaid Insurance, Equipment, Accumulated Depreciation- Washing contains the following accounts: Cash, Accounts Receivable, Payable, Common Stock, Retained Earnings, Dividends, Income Expense, Supplies Expense, Summary, Depreciation Expense, Insurance Expense, an -Equipment, Accounts Payable, Salaries and Wages Service Revenue, Maintenance and Repairs d Salaries and Wages Expense. Y (a) it account titles are automatically indented when the a indent maually. Record mount is entered. journal entries in the order presented account titles and enter o for the amounts.) select "No Entry" for the problem. If no entry is in the required, All Rights Reserved. A Division of Version 4.24.5. lwExplanation / Answer
Journal entries
date
explanation
debit
credit
july
cash
10800
common stock
10800
1-Jul
equipment-truck
7200
cash
1000
accounts payable
6200
3-Jul
supplies
810
accounts payable
810
5-Jul
prepaid insurance
1680
cash
1680
12-Jul
accounts receivable
3330
service revenue
3330
18-Jul
accounts payable
1350
cash
1350
20-Jul
salary & wages expense
1800
cash
1800
21-Jul
cash
1440
accounts receivable
1440
25-Jul
accounts receivable
2550
service revenue
2550
31-Jul
maintenance & repair expense
260
cash
260
31-Jul
retained earning
540
dividend payable
540
31-Jul
dividend payable
540
cash
540
Journal entries
date
explanation
debit
credit
july
cash
10800
common stock
10800
1-Jul
equipment-truck
7200
cash
1000
accounts payable
6200
3-Jul
supplies
810
accounts payable
810
5-Jul
prepaid insurance
1680
cash
1680
12-Jul
accounts receivable
3330
service revenue
3330
18-Jul
accounts payable
1350
cash
1350
20-Jul
salary & wages expense
1800
cash
1800
21-Jul
cash
1440
accounts receivable
1440
25-Jul
accounts receivable
2550
service revenue
2550
31-Jul
maintenance & repair expense
260
cash
260
31-Jul
retained earning
540
dividend payable
540
31-Jul
dividend payable
540
cash
540
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