Professional Documents
Culture Documents
101
Date Explanation Debit Credit Balance
1-Jul Investment $ 20,000.00 $ 20,000.00
1-Jul Truck purchased $ 4,000.00 $ 16,000.00
5-Jul Insurance policy $ 1,800.00 $ 14,200.00
18-Jul Payables $ 2,900.00 $ 11,300.00
20-Jul Salaries Expense $ 2,500.00 $ 8,800.00
21-Jul Accounts Receivables $ 3,400.00 $ 12,200.00
31-Jul Gasoline Expense $ 350.00 $ 11,850.00
31-Jul Drawings $ 5,600.00 $ 6,250.00
Adjusting entries
a Accounts receivable 2700
service revenue 2700
Closing entries
Income statement
Service revenue $ 13,200
Less:expenses
Gasoline Expense $ 350
Salaries and Wages Expense $ 3,500
Depriciation expense-equipment $ 500
Insurance expense $ 150
Supplies expense $ 1,500
$ 6,000