Oriole Clark opened Oriole’s Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 Oriole invested $20,200 cash in the business. 1 Purchased used truck for $9,200, paying $4,000 cash and the balance on account. 3 Purchased cleaning supplies for $2,300 on account. 5 Paid $1,680 cash on a 1-year insurance policy effective July 1. 12 Billed customers $4,400 for cleaning services. 18 Paid $1,400 cash on amount owed on truck and $1,400 on amount owed on cleaning supplies. 20 Paid $2,500 cash for employee salaries. 21 Collected $3,300 cash from customers billed on July 12. 25 Billed customers $5,900 for cleaning services. 31 Paid $350 for the monthly gasoline bill for the truck. 31 Withdraw $5,700 cash for personal use. Journalize the July transactions. Date Account Titles and Explanation Debit Credit choose a transaction date enter an account title to record cash invested in business enter a debit amount enter a credit amount enter an account title to record cash invested in business enter a debit amount enter a credit amount (To record cash invested in business) choose a transaction date enter an account title to record truck purchased enter a debit amount enter a credit amount enter an account title to record truck purchased enter a debit amount enter a credit amount enter an account title to record truck purchased enter a debit amount enter a credit amount (To record truck purchased) choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title to record gasoline expense enter a debit amount enter a credit amount enter an account title to record gasoline expense enter a debit amount enter a credit amount (To record gasoline expense) choose a transaction date enter an account title to record drawings enter a debit amount enter a credit amount enter an account title to record drawings enter a debit amount enter a credit amount
Oriole Clark opened Oriole’s Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 Oriole invested $20,200 cash in the business. 1 Purchased used truck for $9,200, paying $4,000 cash and the balance on account. 3 Purchased cleaning supplies for $2,300 on account. 5 Paid $1,680 cash on a 1-year insurance policy effective July 1. 12 Billed customers $4,400 for cleaning services. 18 Paid $1,400 cash on amount owed on truck and $1,400 on amount owed on cleaning supplies. 20 Paid $2,500 cash for employee salaries. 21 Collected $3,300 cash from customers billed on July 12. 25 Billed customers $5,900 for cleaning services. 31 Paid $350 for the monthly gasoline bill for the truck. 31 Withdraw $5,700 cash for personal use. Journalize the July transactions. Date Account Titles and Explanation Debit Credit choose a transaction date enter an account title to record cash invested in business enter a debit amount enter a credit amount enter an account title to record cash invested in business enter a debit amount enter a credit amount (To record cash invested in business) choose a transaction date enter an account title to record truck purchased enter a debit amount enter a credit amount enter an account title to record truck purchased enter a debit amount enter a credit amount enter an account title to record truck purchased enter a debit amount enter a credit amount (To record truck purchased) choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title to record gasoline expense enter a debit amount enter a credit amount enter an account title to record gasoline expense enter a debit amount enter a credit amount (To record gasoline expense) choose a transaction date enter an account title to record drawings enter a debit amount enter a credit amount enter an account title to record drawings enter a debit amount enter a credit amount
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Oriole Clark opened Oriole’s Cleaning Service on July 1, 2022. During July, the following transactions were completed.
| July 1 | Oriole invested $20,200 cash in the business. | |
| 1 | Purchased used truck for $9,200, paying $4,000 cash and the balance on account. | |
| 3 | Purchased cleaning supplies for $2,300 on account. | |
| 5 | Paid $1,680 cash on a 1-year insurance policy effective July 1. | |
| 12 | Billed customers $4,400 for cleaning services. | |
| 18 | Paid $1,400 cash on amount owed on truck and $1,400 on amount owed on cleaning supplies. | |
| 20 | Paid $2,500 cash for employee salaries. | |
| 21 | Collected $3,300 cash from customers billed on July 12. | |
| 25 | Billed customers $5,900 for cleaning services. | |
| 31 | Paid $350 for the monthly gasoline bill for the truck. | |
| 31 | Withdraw $5,700 cash for personal use. |
Journalize the July transactions.
|
Date
|
Account Titles and Explanation
|
Debit
|
Credit
|
|---|---|---|---|
|
choose a transaction date
|
enter an account title to record cash invested in business
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title to record cash invested in business
|
enter a debit amount
|
enter a credit amount
|
|
|
(To record cash invested in business)
|
|||
|
choose a transaction date
|
enter an account title to record truck purchased
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title to record truck purchased
|
enter a debit amount
|
enter a credit amount
|
|
|
enter an account title to record truck purchased
|
enter a debit amount
|
enter a credit amount
|
|
|
(To record truck purchased)
|
|||
|
choose a transaction date
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
|
choose a transaction date
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
|
choose a transaction date
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
|
choose a transaction date
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
|
choose a transaction date
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
|
choose a transaction date
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
|
choose a transaction date
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title
|
enter a debit amount
|
enter a credit amount
|
|
|
choose a transaction date
|
enter an account title to record gasoline expense
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title to record gasoline expense
|
enter a debit amount
|
enter a credit amount
|
|
|
(To record gasoline expense)
|
|||
|
choose a transaction date
|
enter an account title to record drawings
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title to record drawings
|
enter a debit amount
|
enter a credit amount
|
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