Mike Greenberg opened Monty Window Washing Co. on July 1, 2022. During July, the following transactions were completed. July 1 Owner invested $11,000 cash in the company. 1 Purchased used truck for $7,360, paying $1,840 cash and the balance on account. Purchased cleaning supplies for $830 on account. Paid $1,680 cash on a 1-year insurance policy effective July 1. 12 Billed customers $3,400 for cleaning services performed. 18 Paid $920 cash on amount owed on truck and $460 on amount owed on cleaning supplies. 20 Paid $1.840 cash for employee salaries. 21 Collected $1,470 cash from customers billed on July 12. 25 Billed customers $2.300 for cleaning services performed. 31 Paid $270 for maintenance of the truck during month. 31 Owner withdrew $550 cash from the company.
Mike Greenberg opened Monty Window Washing Co. on July 1, 2022. During July, the following transactions were completed. July 1 Owner invested $11,000 cash in the company. 1 Purchased used truck for $7,360, paying $1,840 cash and the balance on account. Purchased cleaning supplies for $830 on account. Paid $1,680 cash on a 1-year insurance policy effective July 1. 12 Billed customers $3,400 for cleaning services performed. 18 Paid $920 cash on amount owed on truck and $460 on amount owed on cleaning supplies. 20 Paid $1.840 cash for employee salaries. 21 Collected $1,470 cash from customers billed on July 12. 25 Billed customers $2.300 for cleaning services performed. 31 Paid $270 for maintenance of the truck during month. 31 Owner withdrew $550 cash from the company.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Mike Greenberg opened Monty Window Washing Co. on July 1, 2022. During July, the following transactions were completed.
July 1
Owner invested $11,000 cash in the company.
1
Purchased used truck for $7,360, paying $1,840 cash and the balance on account.
Purchased cleaning supplies for $830 on account.
Paid $1,680 cash on a 1-year insurance policy effective July 1.
12
Billed customers $3,400 for cleaning services performed.
18
Paid $920 cash on amount owed on truck and $460 on amount owed on cleaning supplies.
20
Paid $1.840 cash for employee salaries.
21
Collected $1,470 cash from customers billed on July 12.
25
Billed customers $2.300 for cleaning services performed.
31
Paid $270 for maintenance of the truck during month.
31
Owner withdrew $550 cash from the company.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F42016d7f-c7d3-411a-abd7-ec54e0de1cca%2Fe008f527-2186-4c99-8592-0e6b9edb4e1e%2F428bbeb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Mike Greenberg opened Monty Window Washing Co. on July 1, 2022. During July, the following transactions were completed.
July 1
Owner invested $11,000 cash in the company.
1
Purchased used truck for $7,360, paying $1,840 cash and the balance on account.
Purchased cleaning supplies for $830 on account.
Paid $1,680 cash on a 1-year insurance policy effective July 1.
12
Billed customers $3,400 for cleaning services performed.
18
Paid $920 cash on amount owed on truck and $460 on amount owed on cleaning supplies.
20
Paid $1.840 cash for employee salaries.
21
Collected $1,470 cash from customers billed on July 12.
25
Billed customers $2.300 for cleaning services performed.
31
Paid $270 for maintenance of the truck during month.
31
Owner withdrew $550 cash from the company.
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