Required---------------------1. Prepare the trial balance of Harper Service as at 31March 2018--------...Required---------------------1. Prepare the...

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Accounting

Required
---------------------
1. Prepare the trial balance of Harper Service as at 31March 2018
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During March, the business engaged in the followingtransactions, All figures are GST (GST is15%)inclusive where applicable:
Journalise each transaction. Key journal entries bytransaction letter, using the format below:
General Journal
Transactions
Accounts
Debit ($)
Credit ($)

1 March: Borrowed $45,000 from the bank and signed a billpayable in the name of the business.
2 March: Paid cash of $40,000 to acquire a motor vehicle.
4 March: Performed service for a customer and received cash of$5,000.
10 March: Purchased supplies on credit, $300.
14 March: Performed customer service and earned revenue oncredit, $2,600.
15 March: Paid $1,200 on account.
16 March: Paid the following cash expense: advertising, $3,000;rent, $1,500; and computer repair, $400.
22 March: Received $3,100 on account.
26 March: Received a $200 electricity and gas bill that will bepaid next month.
28 March: Harper withdrew $1,800 for personal use.

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Journal Entries Transaction Account Debit Credit March 1 CashBank 45000 Bills Payable 45000 March 2 Motor Vehicle 40000 Cash 40000 March 4 Cash 5000 Service Revenue See Answer

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Transcribed Image Text

In: AccountingRequired---------------------1. Prepare the trial balance of Harper Service as at 31March 2018--------...Required---------------------1. Prepare the trial balance of Harper Service as at 31March 2018--------During March, the business engaged in the followingtransactions, All figures are GST (GST is15%)inclusive where applicable:Journalise each transaction. Key journal entries bytransaction letter, using the format below:General JournalTransactionsAccountsDebit ($)Credit ($) 1 March: Borrowed $45,000 from the bank and signed a billpayable in the name of the business.2 March: Paid cash of $40,000 to acquire a motor vehicle.4 March: Performed service for a customer and received cash of$5,000.10 March: Purchased supplies on credit, $300.14 March: Performed customer service and earned revenue oncredit, $2,600.15 March: Paid $1,200 on account.16 March: Paid the following cash expense: advertising, $3,000;rent, $1,500; and computer repair, $400.22 March: Received $3,100 on account.26 March: Received a $200 electricity and gas bill that will bepaid next month.28 March: Harper withdrew $1,800 for personal use.

Transactions	Accounts	Debit ($)	Credit ($)