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Comprehensive Accounting Cycle Review 4-1 (Part Level Submission) Mike Greenberg opened Monty Window Washing Inc. on July 1, 2017. During July, the following transactions were completed. July 1 Issued 11,000 shares of common stock for $11,000 cash. 1 Purchased used truck for $7,360, paying $1,840 cash and the balance on account. 3 Purchased cleaning supplies for $830 on account. 5 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 Declared and paid $550 cash dividend. The chart of accounts for Monty Window Washing contains the following accounts: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Salaries and Wages Payable, Common Stock, Retained Earnings, Dividends, Income Summary, Service Revenue, Maintenance and Repairs Expense, Supplies Expense, Depreciation Expense, Insurance Expense, and Salaries and Wages Expense. 0

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