fill in all charts R Playrreeuames suggested tut Web SIce

fill in all charts

R Playrreeuames ? suggested ? tut ? Web SIce Gallery ites Baseball nals Me ? Gobie nou Ag ?Careers and Career lr ? USAgov ?Centerpint Energy?Charles Schwab Credit First National, Dindtes PLUS Weygandt, Financial Accounting, 10e PRINCIPLES OR Study & Practice Gradebook ORION Downloadable eTextbook Open Assignment CALCULATOR MESSAGE NY INSTRUCTOR FULL SCREEN Problem 4-5A (Part Level Submission) Heidi Jara opened Bridgeport\'s Cleaning Service on July 1, 2019. During buly, the following transactions were completed. July 1 Stockholders invested $19,800 cash in the business in exchange for common stock. 1 Purchased used truck for $8,900, paying $4,100 cash and the balance on account 3 Purchased cleaning supplies for $2,200 on account. 5 Paid $1,800 cash on a 1-year insurance policy effective July 1. 12 Billed customers $2,600 for cleaning services. 18 Paid si,510 cash on amount awed on truck and $1,500 on amount owed on cleaning supplies. 20 Paid $2,520 cash for emplovee salaries. 21 Colected $3,37D cash from customers billed on July 12. 25 Billed customers $6,010 for cleaning services 31 Paid 5360 for the monthly gasoline bili for the truck 31 Paid a $5,520 cash dividend. s clearing payable, No.- and Wages The chart of accounts for Bridgeport\'s Cleaning Service contains the following accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 130 P Accounts Payable, No. 212 Salaries and Wages Payable, No. 311 Common Stock. No. 32 Expense, No. 722 insurance Expense, and No. 726 Salaries and Wages Expense. repaid Insurance, No. 157 Equipment, No. 158 Accumufated 0 Retained Earnings. No. 332 Dividends, No. 350 Income Summary, No. 400 Service Revenue, No. 631 Supplies Expense, No. 633 Gaseline Expense, Na. (al) Journalize the July transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manualy, Record journal entries in the order presented in the problem.J Date Account Titles and Explanation Debit

Solution

Journal Entries

( Stockholders invested cash in business in exchange of common stock )

Explanation : Stockholders paid cash which has incrased cash level, Cash increases gets debited on the other hand Common stock is part of capital which increases gets credited

( Purchased old truck )

Explanation : Truck forms part of fixed assets which increases gets debited on the other hand cash and bank both are assets which decreases gets credited. In short assets gets debited when increases and gets credited when decreases.

( Cleaning supplies purchased )

Explanation : Cleaning supplies are assets for the company since company is providing cleaning services. Assets increased gets debited. On the other hand supplies payment made through account means bank has decreased. assets decreased gets credited So as the bank.

( Insurance expense paid)

Explanation : Insurance premium is an expense. Expenses gets debited when increases. On the other hand cash has been paid which is an asset. Asset decreased gets credited So as the cash.

( Billing made for providing core cleaning services)

Explanation : Customer or account receivable account is debited since payment to be received from customer. Debit the receiver here customers has received cleaning services or account receivables has increased hence it is debited on the other hand cleaning services is the core function which is termed as sales and sales increased gets credited.

( Cash paid for owned amounts)

Explanation : Owned amount is a liability which is now paid off that means liability has decreased. Thus liability decreases gets debited. On the other hand cash has been paid which is an asset. Asset decreased gets credited So as the cash.

( Cash paid for owned amounts)

Explanation : Employee salary is an expense. Expenses are debited when incrased. On the other hand cash has been paid which is an asset. Asset decreased gets credited thus cash credited.

( Billed amolunt received from customer)

Explanation : Cash is increased. cash is an asset which increases gets debited. on the other hand customers have paid their pendings thus their account is credited since credit the receiver or account receivale is asset gets credited when decreased. furhter excess cash is received which will be advace amount and is a liability. liability gets credited when increases.

( Billing made for providing core cleaning services)

Explanation : Customer or account receivable account is debited since payment to be received from customer. Debit the receiver here customers has received cleaning services or account receivables has increased hence it is debited on the other hand cleaning services is the core function which is termed as sales and sales increased gets credited.

( Cash paid for truck gasoline bill)

Explanation : Monthly truck gasoline bill is an expense. Expenses are debited when incrased. On the other hand cash has been paid which is an asset. Asset decreased gets credited thus cash credited.

( Divided paid in cash)

Explanation : Dividend is a liability towards the stockholders. Libilities are debited when decrased. On the other hand cash has been paid which is an asset. Asset decreased gets credited thus cash credited.

Date	Account Titles and Explanation	Debit($)	Credit($)
July 1	Cash	19,800
	To Common Stock		19,800