Mary Smith opened Smith Interior Decorating Service on July 1, 2022. During July, the company completed the following transactions July 1 Invested $15,000 cash in the business. Purchased a used sewing machine for $10,000, paying $2,500 cash and the balance on account. Purchased supplies for $700 on account. Paid $1,440 on a 1-year insurance policy, effective July 1. Billed customers $3,500 for decorating services. Paid $1,000 of amount owed on sewing machine, and $200 of amount owed on supplies. Paid $1,500 for employee salaries. Collected $1,500 from customers billed on July 12. Billed customers $1,500 for decorating services. Paid utilities for the month, $200. 1 3 5 12 18 20 21 25 31 E

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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Pls Post the July transactions. There are total 8 

Date
July 1
July 3
July 5
July 12
July 18
July 20
July 21
July 25
July 31
>
>
>
Explanation Ref
J1
J1
J1
J1
J1
J1
J1
J1
Cash
Debit
Credit
No. 101
Balance
Ih
Transcribed Image Text:Date July 1 July 3 July 5 July 12 July 18 July 20 July 21 July 25 July 31 > > > Explanation Ref J1 J1 J1 J1 J1 J1 J1 J1 Cash Debit Credit No. 101 Balance Ih
Mary Smith opened Smith Interior Decorating Service on July 1, 2022. During July, the company completed the following transactions
July
1
1
3
5
12
18
20
21
25
31
31
||
Invested $15,000 cash in the business.
Purchased a used sewing machine for $10,000, paying $2,500 cash and the balance on account.
Purchased supplies for $700 on account.
Paid $1,440 on a 1-year insurance policy, effective July 1.
Billed customers $3,500 for decorating services.
Paid $1,000 of amount owed on sewing machine, and $200 of amount owed on supplies.
Paid $1,500 for employee salaries.
Collected $1,500 from customers billed on July 12.
Billed customers $1,500 for decorating services.
Paid utilities for the month, $200.
Withdrew $500 cash for personal use.
(
S
Transcribed Image Text:Mary Smith opened Smith Interior Decorating Service on July 1, 2022. During July, the company completed the following transactions July 1 1 3 5 12 18 20 21 25 31 31 || Invested $15,000 cash in the business. Purchased a used sewing machine for $10,000, paying $2,500 cash and the balance on account. Purchased supplies for $700 on account. Paid $1,440 on a 1-year insurance policy, effective July 1. Billed customers $3,500 for decorating services. Paid $1,000 of amount owed on sewing machine, and $200 of amount owed on supplies. Paid $1,500 for employee salaries. Collected $1,500 from customers billed on July 12. Billed customers $1,500 for decorating services. Paid utilities for the month, $200. Withdrew $500 cash for personal use. ( S
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