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Ain Management services opens for business and completes these transactions in August 2019: August 1...

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Accounting

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Ain Management services opens for business and completes these transactions in August 2019: August 1 Ain, the owner, invests RM28,000 cash along with office equipment valued as RM25,000 in the business 2 Prepaid RM10,500 cash for twelve months' rent for office space 4 Made credit purchases for RM9,000 in office equipment and RM1,200 in office supplies. Payment is due within 10 days. 8 Completed work for a client and immediately received RM2,600 cash 12 Completed a RM13,400 project for a client, who must pay within 20 days 13 Paid RM10,200 cash to settle the account payable created on 4 August 19 Paid RM5,200 cash for the premium on an 18-month insurance policy 22 Received RM7,800 cash as partial payment for the work completed on 12 August. 24 Completed work for another client for RM1,900 on credit. 28 Ain withdrew RM5,300 cash for personal use. 29 Purchased RM1,700 of additional office supplies on credit. 31 Paid RM460 cash for this month's utility bill REQUIRED: 1. Prepare journal entries to record these transactions. 2. Post journal entries to three column ledger. 3. Prepare a trial balance as at 31 August 2019. nimi

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