Question-1- Following are the transactions of the Speedy Delivery Service for the month of May, 2022 Instructions: 1. Jo

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Question 1 Following Are The Transactions Of The Speedy Delivery Service For The Month Of May 2022 Instructions 1 Jo 1 (41.44 KiB) Viewed 16 times

Question-1- Following are the transactions of the Speedy Delivery Service for the month of May, 2022 Instructions: 1. Journalize the 2. Post (T-Account) the journalized entries in the general ledger (12) 3. Prepare a trial balance (20 pts) account May. 1 Speedy Delivery Service issued common stock in exchange for $25,000 cash 4 Purchased equipment of $60,000 by paying $10,000 cash and the remaining on 8 Paid $1000 the rent for the month of May,2022 15 Paid one-year Insurance of $1,400 18 They received $4,500 cash upon providing delivery service 20 They paid the salaries for the current period of $500 25 They received the utilities bill of $100 that is due in the month of May 28 They provided a delivery service of $300 cash 30 They paid dividends of $750 30 They billed customers for delivery service of $1,000 Answer: Date Account Titles and Explanation. Debit 2022 May 8 15 18 Credit