Mike Greenberg opened Novak Window Washing Co. on July 1, 2020. During July, the following transactions were completed.July 1 Owner invested $11,300 cash in the company. 1 Purchased used truck for $7,520, paying $1,880 cash and the balance on account. 3 Purchased cleaning supplies for $850 on account. 5 Paid $1,680 cash on a 1-year insurance policy effective July 1. 12 Billed customers $3,480 for cleaning services performed. 18 Paid $940 cash on amount owed on truck and $470 on amount owed on cleaning supplies. 20 Paid $1,880 cash for employee salaries. 21 Collected $1,500 cash from customers billed on July 12. 25 Billed customers $2,350 for cleaning services performed. 31 Paid $270 for maintenance of the truck during month. 31 Owner withdrew $560 cash from the company.Post to the Ledger Accounts.Cashdateamountdateamount balance Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Owner's Capital Owner’s Drawings Service Revenue Maintenance and Repairs Expense Salaries and Wages Expense

Name: Mike Greenberg opened Novak Window Washing Co. on July 1, 2020. During
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Description: Mike Greenberg opened Novak Window Washing Co. on July 1, 2020. During July, the following transactions were completed.July 1 Owner invested $11,300 cash in the company. 1 Purchased used truck for $7,520, paying $1,880 cash and the balance on account

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Answered: Post to the Ledger Accounts.

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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Mike Greenberg opened Novak Window Washing Co. on July 1, 2020. During July, the following transactions were completed.

July 1		Owner invested $11,300 cash in the company.
1		Purchased used truck for $7,520, paying $1,880 cash and the balance on account.
3		Purchased cleaning supplies for $850 on account.
5		Paid $1,680 cash on a 1-year insurance policy effective July 1.
12		Billed customers $3,480 for cleaning services performed.
18		Paid $940 cash on amount owed on truck and $470 on amount owed on cleaning supplies.
20		Paid $1,880 cash for employee salaries.
21		Collected $1,500 cash from customers billed on July 12.
25		Billed customers $2,350 for cleaning services performed.
31		Paid $270 for maintenance of the truck during month.
31		Owner withdrew $560 cash from the company.

Post to the Ledger Accounts.

Cash
date	amount	date	amount





balance

Accounts Receivable

Supplies

Prepaid Insurance

Equipment

Accounts Payable

Owner's Capital

Owner’s Drawings

Service Revenue

Maintenance and Repairs Expense

Salaries and Wages Expense

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