Mike Greenberg opened Grouper Window Washing Inc. on July 1, 2025. During July, the following transactions were completed. July 1 1 (a) 3 5 12 18 20 21 25 31 31 Issued 10,300 shares of common stock for $10,300 cash. Purchased used truck for $6,880, paying $1,720 cash and the balance on account. Purchased cleaning supplies for $770 on account. Paid $1,560 cash on a 1-year insurance policy effective July 1. Billed customers $3,180 for cleaning services performed. Paid $860 cash on amount owed on truck and $430 on amount owed on cleaning supplies. Paid $1,720 cash for employee salaries. Collected $1,380 cash from customers billed on July 12. Billed customers $2,150 for cleaning services performed. Paid $250 for maintenance of the truck during month. Declared and paid $520 cash dividend. The chart of accounts for Grouper Window Washing contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Salaries and Wages Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Insurance Expense, and Salaries and Wages Expense. Journalize the July transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
Mike Greenberg opened Grouper Window Washing Inc. on July 1, 2025. During July, the following transactions were completed. July 1 1 (a) 3 5 12 18 20 21 25 31 31 Issued 10,300 shares of common stock for $10,300 cash. Purchased used truck for $6,880, paying $1,720 cash and the balance on account. Purchased cleaning supplies for $770 on account. Paid $1,560 cash on a 1-year insurance policy effective July 1. Billed customers $3,180 for cleaning services performed. Paid $860 cash on amount owed on truck and $430 on amount owed on cleaning supplies. Paid $1,720 cash for employee salaries. Collected $1,380 cash from customers billed on July 12. Billed customers $2,150 for cleaning services performed. Paid $250 for maintenance of the truck during month. Declared and paid $520 cash dividend. The chart of accounts for Grouper Window Washing contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Salaries and Wages Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Insurance Expense, and Salaries and Wages Expense. Journalize the July transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Mike Greenberg opened Grouper Window Washing Inc. on July 1, 2025. During July, the following transactions were completed.
July 1
1
(a)
3
5
12
18
20
21
25
31
31
Issued 10,300 shares of common stock for $10,300 cash.
Purchased used truck for $6,880, paying $1,720 cash and the balance on account.
Purchased cleaning supplies for $770 on account.
Paid $1,560 cash on a 1-year insurance policy effective July 1.
Billed customers $3,180 for cleaning services performed.
Paid $860 cash on amount owed on truck and $430 on amount owed on cleaning supplies.
Paid $1,720 cash for employee salaries.
Collected $1,380 cash from customers billed on July 12.
Billed customers $2,150 for cleaning services performed.
Paid $250 for maintenance of the truck during month.
Declared and paid $520 cash dividend.
The chart of accounts for Grouper Window Washing contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid
Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Salaries and Wages Payable, Common Stock,
Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation
Expense, Insurance Expense, and Salaries and Wages Expense.
Journalize the July transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the
amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No
Entry" for the account titles and enter O for the amounts.)
Transcribed Image Text:(a)
Journalize the July transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the
amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No
Entry" for the account titles and enter O for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
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