Wildhorse Clark opened Wildhorse's Cleaning Service on July 1,2022. During July, the following transactions were...

90.2K

Verified Solution

Question

Accounting

Wildhorse Clark opened Wildhorse's Cleaning Service on July 1,2022. During July, the following transactions were completed.
July 1 Wildhorse invested $19,800 cash in the business.
1 Purchased used truck for $9,100, paying $3,900 cash and the balance on account.
3 Purchased cleaning supplies for $1,900 on account.
5 Paid $1,800 cash on a 1-year insurance policy effective July 1.
12 Billed customers $4,400 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 $3,300 cash from customers billed on July 12.
25 Billed customers $6,000 for cleaning services.
31 Paid $350 for the monthly gasoline bill for the truck.
31 Withdraw $5,600 cash for personal use.
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students