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    Journalizing Accounting Transactions

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    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.

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    Solution Summary

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

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