Presented below is the ledger for Higgs Co.

Instructions
(a) Reproduce the journal entries for the transactions that occurred on October 1, 10, and 20, and provide explanations for each.
(b) Determine the October 31 balance for each of the accounts above, and prepare a trial balance at October 31, 2019.

Transcribed Image Text:

Cash No. 101 Common Stock No. 311 10/1 10/10 10/10 10/20 10/25 10/1 10/25 5,000 2,000 5,00010/4 730 10/12 3,000 10/15 500 10/30 2,000 10/31 1,500 280 500 Accounts Receivable No. 112 500 Dividends No. 332 10/30 300 Service Revenue 10/6 10/10 10/20 No. 400 800 730 910 10/6 10/20 800 10/20 910 Supplies 400 No. 126 Salaries and Wages Expense 10/4 No. 726 uipment 2,000 Notes Payable No. 157 10/31 500 10/3 Rent Expe nseNo. 729 No. 200 3,000 No. 201 2,000 10/15 280 10/10 Accounts Payable 10/12 1,50010/3