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QUESTION 1 (2.5 marks) On October 1, 2020, John Mark started a new business called...

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Accounting

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QUESTION 1 (2.5 marks) On October 1, 2020, John Mark started a new business called Clever Training Corporation. In the October, the following transactions completed. Date Transactions 1 Shareholders invested $30,000 in the business in exchange for ordinary shares. 3 Paid $......cash for October office rent. 5 Paid $ ......cash for supplies. 7 Purchased $......computers on account from ADC Company. 11 Paid $......advertising to Advertising Company. 13 Performed service for $26,000, of which $7,500 was in cash and the remaning was billed to customer on account. 15 Paid the utility bill for the month, $..... 21 Paid ADC Company the amount due in transaction incurred on 7 October 27 Paid employee's salaries and wages, $..... 30 Received $......cash from customers billed in transaction incurred on 12 October 31 Declared and paid cash dividend of $800 Note: The closing balance of CASH account was $17,500 Required: 1. Fill the dot (.....) with a reasonable amount for given transactions above. (0.75 marks) 2. Prepare journal entries for the given transactions. (0.75 marks) 3. Post the transaction to T accounts. (0.5 marks) 4. Prepare Trial Balance. (0.5 marks)

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