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