Add Category Basic journal entries Posting to ledger and TB Insert Table Chart Text Shape Media Comment Adjusting journal entries Recall that we can use either a 3-column presentation or T-accounts to post entries to the General Ledger. Post the following 5 entries to both the related T-accounts as well as the 3-column ledger presentation. Two examples are given to help you get started. A>> Journal entries to be posted. Number Accounts (1) Cash Debit $10,000 Credit Common Stock $10,000 Number Explanation: To record investment in Common Stock by investors. Accounts Debit Credit (2) Equipment $10,000 Cash $6,000 Accounts Payable $4,000 Explanation: To cord purchase of equipment using cash and accounts payable. Number Accounts (3) Cash Revenue Debit Credit $20,000 $20,000 Explanation: To record revenue of $20,000 paid for services performed Accounts Number (4) Salary Expense Cash Debit $7,000 Credit $7,000 Explanation: To record Salaries paid to employees Number Accounts Debit Credit (5) Accounts Payable $4,000 Cash $4,000 Explanation: To record cash being paid for on account portion of equipment purchase. B>> Post transactions to T-accounts as well as to three-column ledger format. Assume all accounts have a zero beginning balance MacBook Air Y View Zoom Add Category Insart Table + Basic journal entries Posting to ledger and TB Adjusting journ B>> Post transactions to T-accounts as well as to three-column ledger format. Assume T-Accounts (3) (4) (1) (5) sub-total balance Cash Equipment (2) sub-total balance Accounts payable (2) (5) sub-total balance 23 Common stock 125% Zoom Add Category Insert Basic journal entries Posting to ledger and TB Adj sub-total balance Common stock (1) sub-total balance Revenue (3) sub-total balance (4) Salary and Wages Expense sub-total balance 23 Add Category Mid-term prep assignment, 1-4-2022-Edited T Insert Table Chart Text Shape Media Comm Posting to ledger and TB Adjusting journal entries 3-Column Ledger Format Cash (note-asset account so the equation to get natural balance is debits minus credits) Explanation JE # Debit Cash invested for common stock (1) Cash paid for equipment (2) Cash received for services (3) Cash paid to employees (4) Payment of Accounts Payable (5) Credit Balance Equipment (note-asset account so the equation to get natural balance is debits minus credits) Explanation Equipment purchase JE # (2) Debit Credit Balance Accounts Payable (note-liability account so the equation to get natural balance is credits minus Explanation JE# Equipment purchase on account (2) Payment of Accounts Payable (5) Debit Credit Balance Common stock (note- equity account so the equation to get natural balance is credits minus de Explanation Cash invested for common stock JE # (1) Debit Credit MacBook Air Balance A Mid-term prep assignment, 1-4-2022- Edited T Add Category Posting to ledger and TB Explanation Equipment purchase on account Payment of Accounts Payable Insert Table Chart Adjusting journal entries Text Shape Media Comment JE # Debit Credit Balance (2) (5) Common stock (note - equity account so the equation to get natural balance is credits minus de Explanation Cash invested for common stock JE # (1) Debit Credit Balance Revenue (note-equity account so the equation to get natural balance is credits minus debits) Explanation Cash received for service JE # (3) Debit Credit Balance Salary and Wages Exepense (note-asset account so the equation to get natural balance is del Explanation Cash paid to staff JE # Debit (4) Credit Balance View + Zoom Basic journal entries sub-total balance Add Category Insert Posting to ledger and TB Tabla Chart Adjusting journal entries Text Shape Media Comment C>> Post the balances from the accounts above to the Trial Balance; again, cells are highlighted where you need to either select debit or credit and link to Hint it should not matter if you link to the T-account or the 3-column presentation; all should have the same information. Account Cash Equipment Accounts Payable Common Stock Revenue Salaries and Wages Expense Debit Credit $0 50