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lee chang's opened chang's cleaning service Inc.on july 1,2011 the following transactions were completed
july 1 shareholders invested $20.000 cash in the business in exchange for ordinary shares
july 2 purchased used truck for $9000,paying $4000 cash and the balance on account
july 3 purchased cleaning supplies for $2.100 on account
july 5 paid $1800 cash on one-year insurance policy effective july 1
july 12 billed customers $4500 for cleaning services
july 18 paid $1500 cash on amount owed on truck and $1400 on amount owed on cleaning supplies
july 20 paid $2000 cash for employee salaries
july 21 collected $3400 cash from customers billed on july 12
july 25 billed customers $9000 for cleaning services
july 31 paid gas and oil for month on truck $350
july 31 declared and paid a $1600 cash dividend

(a)journalize and post the july transaction,ledger and trial balance

 

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M970442

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