[duder1212]

Hi. I am unsure about the correct way to debit/credit these entries. Can someone help me?

Window Washing Company opened on July 1, 2010. During July the following transactions were completed:

July 1 Issued 14,456 shares of common stock for $14,456 cash.
July 1 Purchased used truck for $12,456, paying $2,106 cash and the balance on account.
July 3 Purchased cleaning supplies for $907 on account.
July 5 Paid $1,886 cash on 1-year insurance policy effective July 1.
July 12 Billed customers $3,286 for cleaning services.
July 18 Paid $1,073 cash on amount owed on truck and $522 on amount owed on cleaning supplies.
July 20 Paid $2,074 cash for employee salaries.
July 21 Collected $1,600 cash from customers billed on July 12.
July 25 Billed customers $2,650 for cleaning services.
July 31 Paid $382 for gas and oil used in the truck during month.
July 31 Declared and paid a $636 cash dividend.

These are the Adjusting Entries:

1. Services provided but unbilled and uncollected at July 31 were $1,779.
2. Depreciation on equipment for the month was $270.
3. One-twelfth of the insurance expired.
4. An inventory count shows $360 of cleaning supplies on hand at July 31.
5. Accrued but unpaid employee salaries were $428.

Help is greatly appreciated.

[pready]

First do your journal entries, then post tem to T-accounts. Next you balance your accounts and do a trial balance.

Next you do your adjusting entries, post them to your T-accounts, and relance your accounts, then do your adjusted trial balance.

To do your trial Balance and Adjusted trial balance is is best to do a Worksheet in Excel. I have a sample Worksheet in one of my previous posts.