90.2K

Verified Solution

Link Copied!

July 1 You deposited $25,000 in a bank account in the name of the business. 1 You invested your personal gardening equipment, with a fair market value of $1,500, in the business. 6 Bought a used trailer on account from Trailers R Us , $800, Inv. #286. 7 Paid the rent for July, $1485, Ck. # 1000. 8 Bought a used backhoe from Deere Equipment, $8,500, paying $4,000 in cash and placing the balance on account, Inv. #3562, Ck. # 1001. 10 Bought liability insurance for one year, $2,400, Ck. #1002. 11 Sold landscaping services on account to Bel-Red Business Park, $2,225, Inv. #100. 15 Bought supplies on account from Garden Suppliers, Inc., $1,585, Inv. #6283. 16 Sold landscaping services on account to Phylla Dendron, $1,850, Inv. #101. 18 Received and paid the bill from Gas To Go for gas and oil for the equipment, $95, Ck. #1003. 19 Sold landscaping services for cash to A Chinzy Company, $1,978, Inv. #102. 20 Paid on account to Trailers R Us, $600, Inv. #286, Ck #1004. 21 Received on account from Bel-Red Business Park, $725, Inv. 100. 22 Sold landscaping services on account to Bonsai, Inc.,$1,626, Inv. #103. 25 Received and paid the utility bill, $184, Ck. #1005. 30 Paid salaries of the employees, $3,000, Ck. #1006. 31 You withdrew cash for your personal use, $1,500, Ck. #1007.

Answer & Explanation Solved by verified expert

See Answer