Lee Chang opened Cullumber's Window Washing on July 1, 2021. In July, the following transactions were completed:July 1 Invested $26,000 cash in the business.1 Purchased a used truck for $25,200, paying $5,200 cash and signing a note payable for the balance.1 Paid $2,800 on a one-year insurance policy, effective July 1.5 Billed customers $3,900 for cleaning services.12 Purchased supplies for $2,100 on account.18 Paid $3,000 for employee salaries.25 Billed customers $9,200 for cleaning services.28 Collected $3,900 from customers billed on July 5.31 Paid $550 for repairs on the truck.31 Withdrew $1,700 cash for personal use. Journalize and post the July transactions to the general ledger

Name: Lee Chang opened Cullumber's Window Washing on July 1, 2021. In July,
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Description: Lee Chang opened Cullumber's Window Washing on July 1, 2021. In July, the following transactions were completed:July 1 Invested $26,000 cash in the business.1 Purchased a used truck for $25,200, paying $5,200 cash and signing a note payable for the b

Journalizing is a procedure distinguishing and recording the exchanges of business in the books of…

Answered: Lee Chang opened Cullumber's Window…

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Lee Chang opened Cullumber's Window Washing on July 1, 2021. In July, the following transactions were completed:

July 1		Invested $26,000 cash in the business.
1		Purchased a used truck for $25,200, paying $5,200 cash and signing a note payable for the balance.
1		Paid $2,800 on a one-year insurance policy, effective July 1.
5		Billed customers $3,900 for cleaning services.
12		Purchased supplies for $2,100 on account.
18		Paid $3,000 for employee salaries.
25		Billed customers $9,200 for cleaning services.
28		Collected $3,900 from customers billed on July 5.
31		Paid $550 for repairs on the truck.
31		Withdrew $1,700 cash for personal use.

Journalize and post the July transactions to the general ledger

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