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Journalizing Accounting Transactions

Journalizing Accounting Transactions

Dana La Fontsee opened Pro Window Washing Inc. on July 1, 2012. During
July the following transactions were completed:

Date Transaction
July 1 Issued 15,529 shares of common stock for $15,529 cash.
July 1 Purchased used truck for $11,529, paying $2,018 cash and balance
on account.
July 3 Purchased cleaning supplies for $933 on account.
July 5 Paid $1,800 cash on 1-year insurance policy effective July 1.
July 12 Billed customers $4,850 for cleaning services.
July 18 Paid $1,013 cash on amount owed on truck and $534 on amount
owed on cleaning supplies.
July 20 Paid $2047 cash for employee salaries.
July 21 Collected $1,674 cash from customers billed on July 12.
July 25 Billed customers $2,603 for cleaning services.
July 31 Paid $363 for maintenance of the truck during month.
July 31 Declared and paid $623 cash dividend.

Journalize the July transactions. (Credit account titles are automatically
indented when the amount is entered. Record journal entries in the
order presented in the problem.

Solution Summary

This file contains detailed instructions on the journalization of accounting transactions.