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Please post these transactions into a general ledger.

here are the general ledger account names and beginning balances.

The following transactions are reflected in the beginning balances.

July 1. 2020. Liz Burnes and her brother, James each invested $15,000 in a corporation they formed

to run Diner 64, Inc. Each were issued 1,500 shares of $10 par value common stock.

July 1, 2020 The corporation took a $30,000 small business loan from a local bank. The loan is an

'interest only' loan for three years at a fixed rate of 12% per year. A balloon payment of the principal will be due in 3 years. The monthly interest payment is due by the 10th of the following month.

July 1,2020. Because this was a new business, the landlord required the business to prepay

$6,000 for the rent for the first six month, plus a $1,500 security deposit for a total cash outlay

of $7.500.

July 1, 2020 The business purchased equipment and fixtures for $20,000 in cash.

The assets have a useful life of 10 years.

July 1, 2020 The company purchased delivery van value at $40,000 with a $15,000 down payment and a 3-year, $25,000 note payable with an annual intereste rate of 6%. The truck has a 10-year useful life. The monthly payment including principal and interest is $760.55.

July 8, 2020 Preston Hill, a local Bed & Breakfast (B & B), arranges with Diner 64 to provide breakfast for their guests at $10 per person per day. Diner 64 will bill the B & B at the end of each month for the meals provided. Payment is required by the 10th of the next month

July 15,2020 Paid $4 800 for two-year fire and liability insurance with coverage beginning September 1. 2020

ww Rent expense cash 1.00u 750 Prepaid insurance cash 750 lizo liroo Food inventory coon Supplies Accounts Payable 2.500 2.500 60 cain Accants Receivable 600 ( 600 600 Food Inventory can cash Sales revenue Savaries expense Cash 3.000 3.600 1,20 1,200 Accants Pauable casin 2.500 2.500 Casn olles Sales revenie 4.500 U SOO 355 3.55 170 170 3ou 3.000 1,150 TH130 644.73 95.82 760.55 Utlities expense cash Telephone expense COS Cash Sales revenue Cleaning expense cash Notes Paulable Tnterest Payable cash cash soles revenue Accounts Receivable soles revenue Advertising expense (Uniform expense Repars expense Printing expense Gasoline expense Accunts payable 6.500 6.500 600 600 1,850 300 256 900 650 3,850 Saones expense cash 1000 LOGO so 500 Dividends can cash Gift cirtificate 250 250 General Ledger Dcut loc Cash Beginning balance 16,684.23 Accounts receivable Beginning balance 400 Food Inventor Beginning balance 625 SUPPlies Beginning balance 750 Prepaid Rent Beginning balance 6.000 Prepaid Insurance Beginning 4.800 Delivery van Beginning 40.000 Equipment Beginning 20.000 Accumulated Depreciation Beginning security Deposit Beginning 1,500 Accounts Payable Beggining balance O 49,164.31 Notes Payable Beginning Gift Cirtificates Beginning Common stock Beginning Interest parable Beginning Retained earnings Beginning 30,000 O sales revenue Beginning 135,425 Cost of goods sold Beginning 83,750 Advertising expense Beginning 1.500 20,400 salaries expense Beginning Supplies expense Beginning O 5,000 Rent expense Beginning Depreciation experte Beginning 0 Interest expense Beginning 1,105.08 Insurance expense Beginning 2,100 3 Gas expense Beginning Telephone expense Beginning 1.350 Printing expense Beginning 1.200 Repairs expense Beginning 850 2,135 Utilities expense Beginning Uniform expense Beginning Cleaning expense Beginning 900 1.340 Dividends Beginning Income Summary Beginning

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