I\'m completely lost. Here\'s the questions. Journalize the transactions when: J

Question

I'm completely lost. Here's the questions. Journalize the transactions when: July 1 Invested $14,000 cash in the business 1 Purchased a used truck for $10,000, paying $3,000 cash and the balance on the account 3 Purchased cleaning supplies for 800 on account 5 Paid $1800 on a one year- insurance policy, effective july 1 12 billed customers $3800 for cleaning services 18 Paid $1,000 of amount owed on a truck, and 400 of amount owed on cleaning supplies 20 Paid $1600 for employee salaries 21 collected $1400 from customers billed on july 12 25 billed customers $1500 for cleaning services 31 paid gasoline for the month on the truck, $400 31 withdrew $600 cash for personal use

Explanation / Answer

7/1 DR Cash 14,000 CR Capital Account 14,000 7/1 DR Fixed assets-vehicles 10,000 CR Cash 3,000 CR Accounts Payable 7,000 7/3 DR Cleaning supplies 800 CR Accounts Payable 800 7/5 DR Prepaid Insurance 1,800 CR Cash 1,800 7/12 DR Accounts receivable 3,800 CR Service Revenue 3,800 7/18 DR Accounts Payable 1,400 CR Cash 1,400 7/20 DR Salaries Expense 1,600 CR Cash 1,600 7/21 DR Cash 1,400 CR Accounts receivable 1,400 7/25 DR Accounts Receivable 1,500 CR Service Revenue 1,500 7/31 DR Vehicle expenses 400 CR Cash 400 7/31 DR Capital- Drawing 600 CR Cash 600

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.