Pharoah Clark opened Pharoah's Cleaning Service on July 1, 2022. During July, the following transactions were completed. Pharoah invested $20,200 cash in the business. Purchased used truck for $9,100, paying $3,800 cash and the balance on account. Purchased cleaning supplies for $1,900 on account. Paid $1,680 cash on a 1-year insurance policy effective July 1. Billed customers $4,500 for cleaning services. id $1,600 cash on amount owed on truck and $1,400 on amount owed on cleaning supplies. Paid $2,600 cash for employee salaries. Collected $3,500 cash from customers billed on July 12. Billed customers $5,900 for cleaning services. Paid $360 for the monthly gasoline bill for the truck. Withdraw $5,600 cash for personal use. July 1 1 3 5 12 18 20 21 25 31 31

Pharoah Clark opened Pharoah's Cleaning Service on July 1, 2022. During July, the following transactions were completed. Pharoah invested $20,200 cash in the business. Purchased used truck for $9,100, paying $3,800 cash and the balance on account. Purchased cleaning supplies for $1,900 on account. Paid $1,680 cash on a 1-year insurance policy effective July 1. Billed customers $4,500 for cleaning services. id $1,600 cash on amount owed on truck and $1,400 on amount owed on cleaning supplies. Paid $2,600 cash for employee salaries. Collected $3,500 cash from customers billed on July 12. Billed customers $5,900 for cleaning services. Paid $360 for the monthly gasoline bill for the truck. Withdraw $5,600 cash for personal use. July 1 1 3 5 12 18 20 21 25 31 31

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter16: Accounting Periods And Methods

Section: Chapter Questions

Problem 33P

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