BAT4M Unit 1 Activity 2 Assignment 1 The following is the Trial Balance as at December 1, 2020 for Ben's Barber Shop. Debit Credit Bank 2 000 Accounts Receivable 220 Supplies 1 300 Furniture and Fixtures 12 100 Accounts Payable 300 Bank Loan 7 000 Ben Capital 8 320 15 620 15 620 The Chart of Accounts is as follows: 100 Bank 230 Bank Loan 110 Accounts Receivable (all) 300 Ben Capital 112 Supplies 301 Ben Drawings 130 Furniture and Fixtures 400 Fees Earned 210 Accounts Payable (all) 501 Utilities Expense 221 HST Payable 502 Bank Charges 222 HST Recoverable 503 Rent Expense 1) Record the following transactions in the general journal. HST is calculated at 13%. 2) Post the transactions in the general journal to the T-account general ledger. 3) Prepare the Trial Balance 4) Prepare the Income Statement 5) Prepare a new Balance Sheet as at Dec 31 2020 Transactions for December 1) Cheque #30, paid monthly rent of $1000 plus HST 2) Purchase Invoice #108, bought hair salon supplies on account from Johnson's for $300 plus HST 3) Cash sales slips for the day, $300 plus HST 4) Sales Invoice #60, M. Swat, $40 plus HST Bank Debit Memo from the bank for service charges of $50 6) Cheque #31, paid Sam Beauty Supplies $100 on account 7) Cash Receipt #20, received $60 on account from F. Banzo 8) $400 monthly automatic payment on the bank loan is transferred from the bank account 9) Cash sales slips for the day, $600 plus HST 10) The owner withdrew $200 worth of the business furniture and took it home for his personal use 11) Purchase Invoice #100 from Union Energy for natural gas $200 plus HST 12) Owner deposited $1400 in business bank account from personal funds (additional investment in the business) Use the template provided