Reference no: EM132659127

Sal Vick opened Vick's Window Washing Inc. on July 1, 2019. During July the following transactions were completed.

July 1 Vick invested $12,000 cash in the business.

1 Purchased used truck for $6,000, paying $3,000 cash and the balance on account.

3 Purchased cleaning supplies for $1,300 on account.

5 Paid $2,400 cash on one-year insurance policy effective July 1.

12 Billed customers $2,500 for cleaning services.

18 Paid $1,000 cash on amount owed on truck and $800 on amount owed on cleaning supplies.

20 Paid $1,200 cash for employee salaries.

21 Collected $1,400 cash from customers billed on July 12.

25 Billed customers $7,000 for cleaning services.

31 Paid gas and oil for month on truck $200.

31 Paid $900 cash dividend.

• The chart of accounts for Vick's Window Washing contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 130 Prepaid Insurance, No. 157 Equipment, No. 158 Accumulated Depreciation-Equipment, No. 201 Accounts Payable, No. 212 Salaries and Wages Payable, No. 311 Common Stock, No. 320 Retained Earnings, No. 332 Dividends, No. 350 Income Summary, No. 400 Service Revenue, No. 631 Supplies Expense, No. 633 Gasoline Expense, No. 711 Depreciation Expense, No. 722 Insurance Expense, and No. 726 Salaries and Wages Expense.

Instructions

Question (a) Journalize and post the July transactions.

Question (b) Post the journal entries to accounts.

Question (c) Prepare Trial Balance.