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Bob Sample opened the Campus Laundromat on September 1, 2017. During the first month of operations,...

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Accounting

Bob Sample opened the Campus Laundromat on September 1, 2017.During the first month of operations, the following transactionsoccurred. Sep. 1 Bob invested $20,000 cash in the business. Sep. 2The company paid $1,000 cash for store rent for September. Sep. 3Purchased washers and dryers for $25,000, paying $10,000 in cashand signing a $15,000, 6-month, 12% note payable Sep. 4 Paid $1,200for a one-year accident insurance policy. Sep. 10 Received a billfrom the Daily News for online advertising of the opening of thelaundromat $200. Sep. 20 Bob withdrew $700 cash for personal use.Sep. 30 The company determined that cash receipts for laundryservices for the month were $6,200. Question1 Journalize theSeptember transactions. (Use J1 for the journal page number.) (inGeneral journal table) Question2. Open ledger accounts and post theSeptember transactions Question3. Prepare a trial balance atSeptember 30, 2017

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4.4 Ratings (567 Votes)
1 Date Account Titles and Explanation Ref Debit Credit Sep01 Cash 101 20000 Owners Capital 301 20000 Sep02 Rent Expense 729 1000 Cash 101 1000 Sep03 Equipment 157 25000 Cash 101 10000 Notes Payable 200 15000 Sep04 Prepaid Insurance 130 1200 Cash 101 1200 Sep10 Advertising Expense 610 200    See Answer
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