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  3. the following transactions occurred during the mon

The following transactions occurred during the month of January for XYZ Company:Received $10,000 in cash...

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Accounting

The following transactions occurred during the month of January for XYZ Company:

  1. Received $10,000 in cash as investment from the owner.
  2. Purchased inventory on credit for $5,000.
  3. Sold inventory for $8,000 in cash.
  4. Paid $1,000 in rent expense.
  5. Collected $3,000 from accounts receivable.
  6. Paid $2,000 to suppliers for accounts payable.
  7. Recorded $500 in depreciation expense.
  8. Issued a note payable for $7,000.
  9. Paid $2,500 in salary expense.
  10. Received $1,200 in interest revenue.

Prepare the trial balance for XYZ Company as of January 31, 2023

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