In September 2019, Niem Duong opened a car hire business. The following transactions occurred during the first month of the business (ignore GST).

Required

(a) Journalize the above transactions.

(b) Post the entries from the general journal to running balance general ledger accounts and enter the posting references in the general journal.

(c) Prepare a trial balance as at 30 September 2019.

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Sep. 1 3 4 5 15 18 19 24 Niem opened a bank account to begin the business and deposited $500 000 of her own money. Paid $1200 rent for the premises for September. Purchased ten motor vehicles costing $40 000 each and equipment costing $36000 with $300 000 cash and a commercial loan for the balance. Purchased supplies costing $12500 on credit. Recorded revenue for the first half of the month of $14600 in cash and $28500 on credit. Paid for supplies purchased on 5 September. Paid insurance expense for September of $5000. Received payment from customers on account of $12400 and banked the receipts. 27 Purchased supplies costing $6200 on credit. 29 Recorded revenue for the second half of the month of $12500 in cash and $32 800 on credit. 30 Paid fuel expense of $16200 in cash. Use the following account titles and numbers. Cash at Bank, 1-101 Accounts Receivable, 1-102 Supplies, 1-110 Equipment, 1-120 Motor Vehicles, 1-130 Accounts Payable, 2-101 Loan Payable, 2-110 N. Duong, Capital, 3-101 Revenue, 4-101 Rent Expense, 5-110 Insurance Expense, 5-120 Fuel Expense, 5-130