The accounts in the ledger of Longoria Delivery Service contain the following balances on July 31, 2014.
|
Accounts Receivable |
$ 7,642 |
Prepaid Insurance |
$ 1,968 |
|
Accounts Payable |
8,396 |
Maintenance and Repairs Expense |
961 |
|
Cash |
Service Revenue |
10,610 |
|
|
Equipment |
49,360 |
Owner’s Drawings |
700 |
|
Gasoline Expense |
758 |
Owner’s Capital |
42,000 |
|
Utilities Expense |
523 |
Salaries and Wages Expense |
4,428 |
|
Notes Payable |
17,000 |
Salaries and Wages Payable |
815 |