Sandhill Clark opened Sandhill's Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 12 18 20 21 25 5 31 1 3 31 Sandhill invested $20,000 cash in the business. Purchased used truck for $9,100. paying $4,200 cash and the balance on account. Purchased cleaning supplies for $2,200 on account. Paid $1,680 cash on a 1-year insurance policy effective July 1. Billed customers $4,600 for cleaning services. Paid $1,600 cash on amount owed on truck and $1,300 on amount owed on cleaning supplies. Paid $2,600 cash for employee salaries. A Collected $3,300 cash from customers billed on July 12. Billed customers $6,000 for cleaning services. Paid $340 for the monthly gasoline bill for the truck. Withdraw $5,500 cash for personal use.

Sandhill Clark opened Sandhill's Cleaning Service on July 1, 2022. During July, the following transactions were completed. July 1 12 18 20 21 25 5 31 1 3 31 Sandhill invested $20,000 cash in the business. Purchased used truck for $9,100. paying $4,200 cash and the balance on account. Purchased cleaning supplies for $2,200 on account. Paid $1,680 cash on a 1-year insurance policy effective July 1. Billed customers $4,600 for cleaning services. Paid $1,600 cash on amount owed on truck and $1,300 on amount owed on cleaning supplies. Paid $2,600 cash for employee salaries. A Collected $3,300 cash from customers billed on July 12. Billed customers $6,000 for cleaning services. Paid $340 for the monthly gasoline bill for the truck. Withdraw $5,500 cash for personal use.

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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