2. Letty Laundry and dry clean (practice problem) - Complete step 2 - 4 (Journal entry, T-account, and Trial balance) Letty's Laundry and Dry Cleaning incorporated and started business on January 1, 20221 Letty's Laundry and Dry Cleaning began business by depositing $30,000 in a checkingaccount in the name of Letty's Laundry and Dry Cleaning, Inc. Capital stock is issued.2 Borrowed $6,000 from City Bank.3 Purchased equipment from Washers Wholesale, $16,200, payable in 30 days.4 Purchased supplies costing $3,000 from Suds 'n Stuff with cash.5 Paid one month's rent for business space in Pine Plaza, $1,000.6 Services provided to customers during January totaled $13,400. All services were paid for incash.7 Paid employees for January, $2,240.8 Received and paid the utility bill, $500.9 Received and paid the telephone bill, $250.10 Paid dividends to the stockholders, $2,140.
2. Letty Laundry and dry clean (practice problem) - Complete step 2 - 4 (
Letty's Laundry and Dry Cleaning incorporated and started business on January 1, 2022
1 Letty's Laundry and Dry Cleaning began business by depositing $30,000 in a checking
account in the name of Letty's Laundry and Dry Cleaning, Inc. Capital stock is issued.
2 Borrowed $6,000 from City Bank.
3 Purchased equipment from Washers Wholesale, $16,200, payable in 30 days.
4 Purchased supplies costing $3,000 from Suds 'n Stuff with cash.
5 Paid one month's rent for business space in Pine Plaza, $1,000.
6 Services provided to customers during January totaled $13,400. All services were paid for in
cash.
7 Paid employees for January, $2,240.
8 Received and paid the utility bill, $500.
9 Received and paid the telephone bill, $250.
10 Paid dividends to the stockholders, $2,140.
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