Manny Gill is an entrepreneur who started West Secure, a business that provides a number of security guard services. West Secure incurred the following transactions during July 2020, its first month of operations: July 1 The owner, Manny Gill, invested $5,200 cash. 10 Purchased $2,700 worth of security equipment on credit. 12 Performed security services for a sold-out concert and received $12,000 cash from the client. 14 Paid for expenses; $3,700. 15 Completed security services for a graduation event and sent the client a bill for $1,600. 31 The owner withdrew $270 cash for personal use. Required: 2. Record the journal entries for the month of July.
Manny Gill is an entrepreneur who started West Secure, a business that provides a number of security guard services. West Secure incurred the following transactions during July 2020, its first month of operations: July 1 The owner, Manny Gill, invested $5,200 cash. 10 Purchased $2,700 worth of security equipment on credit. 12 Performed security services for a sold-out concert and received $12,000 cash from the client. 14 Paid for expenses; $3,700. 15 Completed security services for a graduation event and sent the client a bill for $1,600. 31 The owner withdrew $270 cash for personal use. Required: 2. Record the journal entries for the month of July.
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 46P: Blue Company, an architectural firm, has a bookkeeper who maintains a cash receipts and...
Related questions
Question
9
![Manny Gill is an entrepreneur who started West Secure, a business that provides a number of security guard services. West Secure
incurred the following transactions during July 2020, its first month of operations:
July 1 The owner, Manny Gill, invested $5,200 cash.
10 Purchased $2,700 worth of security equipment on credit.
12 Performed security services for a sold-out concert and received $12,000 cash from the
client.
14 Paid for expenses; $3,700.
15 Completed security services for a graduation event and sent the client a bill for
$1,600.
31 The owner withdrew $270 cash for personal use.
Required:
2. Record the journal entries for the month of July.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc47b8794-c2f2-4d04-9fad-4e8825beb778%2F57b1e0cb-d2a0-4640-a3f4-ca4965def6f1%2F7awi78_processed.png&w=3840&q=75)
Transcribed Image Text:Manny Gill is an entrepreneur who started West Secure, a business that provides a number of security guard services. West Secure
incurred the following transactions during July 2020, its first month of operations:
July 1 The owner, Manny Gill, invested $5,200 cash.
10 Purchased $2,700 worth of security equipment on credit.
12 Performed security services for a sold-out concert and received $12,000 cash from the
client.
14 Paid for expenses; $3,700.
15 Completed security services for a graduation event and sent the client a bill for
$1,600.
31 The owner withdrew $270 cash for personal use.
Required:
2. Record the journal entries for the month of July.
![1. Record the investment by owner.
2. Record the purchased equipment on
credit.
3.Record the performed services for cash.
4.Record the paid expenses.
5. Record the completed services on
account.
6. Record the owner withdrew cash](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc47b8794-c2f2-4d04-9fad-4e8825beb778%2F57b1e0cb-d2a0-4640-a3f4-ca4965def6f1%2Flislv6c_processed.jpeg&w=3840&q=75)
Transcribed Image Text:1. Record the investment by owner.
2. Record the purchased equipment on
credit.
3.Record the performed services for cash.
4.Record the paid expenses.
5. Record the completed services on
account.
6. Record the owner withdrew cash
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Individual Income Taxes](https://www.bartleby.com/isbn_cover_images/9780357109731/9780357109731_smallCoverImage.gif)
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT
![Individual Income Taxes](https://www.bartleby.com/isbn_cover_images/9780357109731/9780357109731_smallCoverImage.gif)
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT