Manny Gill is an entrepreneur who started West Secure, a business that provides a number of security guard services. West Secure incurred the following transactions during July 2020, its first month of operations: July 1 The owner, Manny Gill, invested $5,200 cash. 10 Purchased $2,700 worth of security equipment on credit. 12 Performed security services for a sold-out concert and received $12,000 cash from the client. 14 Paid for expenses; $3,700. 15 Completed security services for a graduation event and sent the client a bill for $1,600. 31 The owner withdrew $270 cash for personal use. Required: 2. Record the journal entries for the month of July.

Manny Gill is an entrepreneur who started West Secure, a business that provides a number of security guard services. West Secure incurred the following transactions during July 2020, its first month of operations: July 1 The owner, Manny Gill, invested $5,200 cash. 10 Purchased $2,700 worth of security equipment on credit. 12 Performed security services for a sold-out concert and received $12,000 cash from the client. 14 Paid for expenses; $3,700. 15 Completed security services for a graduation event and sent the client a bill for $1,600. 31 The owner withdrew $270 cash for personal use. Required: 2. Record the journal entries for the month of July.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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