On July 1, 2020, Arabi Sheikh established an interior decorating
business. During the month, Arabi Sheikh completed the following
transactions related to the business:
July 1: Arabi transferred cash from his personal account and
invested it for business use, $23200.
July 10: Purchased a truck for $14300, paying $7800 cash and the
remainder will be paid in the future.
July 12: Paid annual premiums on property and casualty insurance
(advance), $2590.
July 17: Paid creditor a portion of the amount owed for truck
purchased on July 10, $4600.
July 20: Completed services on account and billed the customer,
$7760
July 25: Received cash from customers on account, $3390.
July 31: Paid salaries expense of $500 and utilities expense of
$330.
(a) Prepare ledger accounts in running balance format
(b) Prepare trial balance at 31 July 2020
** Please answer a and b both.
Thank you
On July 1, 2020, Arabi Sheikh established an interior decorating business. During the month, Arabi Sheikh completed the
-
- Site Admin
- Posts: 899603
- Joined: Mon Aug 02, 2021 8:13 am