On July 1, 2020, Arabi Sheikh established an interior decorating business. During the month, Arabi...
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Accounting
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, $24100. July 10: Purchased a truck for $14600, paying $7800 cash and the remainder will be paid in the future. July 12: Paid annual premiums on property and casualty insurance (advance), $2580. July 17: Paid creditor a portion of the amount owed for truck purchased on July 10, $4790. July 20: Completed services on account and billed the customer, $7310 July 25: Received cash from customers on account, $3460. July 31: Paid salaries expense of $460 and utilities expense of $350. (a) Journalize the above transactions for the month of July (b) Prepare ledger accounts in running balance format (C) Prepare trial balance at 31 July 2020 [NOTE: Once released, the correct answers will appear on the free spaces below. For submission, check the following instructions]
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