Heidi ara opened uunisSlon) Whispering Winds\'s Cleaning Service on July 1, 2019

Question

Heidi ara opened uunisSlon) Whispering Winds's Cleaning Service on July 1, 2019. During July, the following transactions were completed rs invested $20,000 cash in the business in exchange for common stock July,,stockholder Purchased used truck for $9,100, paying $3,900 cash and the balance on account. Purchased cleaning supplies for $1,900 on account &Paid; $1,920 cash on a 1-year insurance policy effective July 1. 2 Billed customers $1,990 for cleaning services. 48. Paid $1,430 cash on amount owed on truck and $1,430 on amount owed on cleaning supplies. 20 Paid $2,520 cash for employee salaries. 24 Collected $3,490 cash from customers billed on July 12 Billed customers $5,930 for cleaning services. 31 Paid $360 for the monthly gasoline bill for the truck. 31 Paid a $5,660 cash dividend. The chart of accounts for Whispering Winds's Cleaning Service contains the followinga ccounts: No. 101 Cash, No. 112 Accour No. 201 Accounts Payable, No. Dividends, No. Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries and vable, No. 126 Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated Depreciation-Equipment 212 Salanes and wages Payable, No. 311 Common Stock, No. 320 Retained Earnings, No. 33 350 Income Summary, No. 400 Service Revenue, No. 631 Supplies Expense, No. 633 Gasoline Expense, No. Wages Expense. (a1) Journalize the July transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Common sto (To record cash invested in business) Cosh 3.96 (To record truck purchased) 1190 aunts 40 Service V

Explanation / Answer

Whispering Winds Cleaning Service

Dr. Cr. Dr. Cr. Dr. Cr. Cash 6,270 6,270 Accounts Receivable 4,430 2,600 7,030 Supplies 1,900 1,390 510 Prepaid Insurance 1,920 160 1,760 Equipment 9,100 9,100 Accumulated Depreciation : Equipment 400 400 Accounts Payable 4,240 4,240 Salaries and Wages Payable 1,030 1,030 Common Stock 20,000 20,000 Retained Earnings Dividends 5,660 5,660 Service Revenue 7,920 2,600 10,520 Supplies Expense 1,390 Gasoline Expense 360 360 Depreciation Expense 400 400 Insurance Expense 160 160 Salaries and Wages Expense 2,520 1,030 3,550 Totals 32,160 32,160 36,190 36,190

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