Chart of Accounts 11 Cash 31 Sue Grant, Capital 12 Accounts 32 Sue Grant, Receivable 13...

  

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Chart of Accounts 11 Cash 31 Sue Grant, Capital 12 Accounts 32 Sue Grant, Receivable 13 Supplies 41 Drawing Services Revenue 14 Prepaid 51 Wages Expense Insurance 16 Equipment 53 Rent Expense 18 Van 54 Utilities Expense 21 Notes Payable 55 Van Expense 22 Accounts 59 Miscellaneous Payable Expense Step 1: Journalize the following transactions. Enter the following on page 1 of the general journal. June 1 Sue transferred cash from a personal bank account to an account to be used for 1 $2,500. 3 the business, $50,000. Paid rent for the month of June Purchased a used van for $20,000. Sue paid $5,000 cash as a down payment and signed a note for the remainder. 20 Recorded jobs completed on account and sent invoices to customers, $17,850. 23 Received an invoice in the mail for van- related expenses, to be paid in July $875. Paid miscellaneous expenses, 28 $200. 28 Paid utilities expense, $2,300. 30 Paid wages of employees, $6,200. Enter the following on page 2 of the general journal. 30 Received cash from customers on account, 30 $7,000. Paid creditor a portion of the amount owed for equipment purchased earlier in the 30 $2,500. $3,250. month, Withdrew cash for personal use, Step 2: Post the journal entries in Step 1 to a four- column general ledger. Step 3: Prepare an unadjusted trial balance for A1 Inspections as of June 30, 2020. Chart of Accounts 11 Cash 31 Sue Grant, Capital 12 Accounts 32 Sue Grant, Receivable 13 Supplies 41 Drawing Services Revenue 14 Prepaid 51 Wages Expense Insurance 16 Equipment 53 Rent Expense 18 Van 54 Utilities Expense 21 Notes Payable 55 Van Expense 22 Accounts 59 Miscellaneous Payable Expense Step 1: Journalize the following transactions. Enter the following on page 1 of the general journal. June 1 Sue transferred cash from a personal bank account to an account to be used for 1 $2,500. 3 the business, $50,000. Paid rent for the month of June Purchased a used van for $20,000. Sue paid $5,000 cash as a down payment and signed a note for the remainder. 20 Recorded jobs completed on account and sent invoices to customers, $17,850. 23 Received an invoice in the mail for van- related expenses, to be paid in July $875. Paid miscellaneous expenses, 28 $200. 28 Paid utilities expense, $2,300. 30 Paid wages of employees, $6,200. Enter the following on page 2 of the general journal. 30 Received cash from customers on account, 30 $7,000. Paid creditor a portion of the amount owed for equipment purchased earlier in the 30 $2,500. $3,250. month, Withdrew cash for personal use, Step 2: Post the journal entries in Step 1 to a four- column general ledger. Step 3: Prepare an unadjusted trial balance for A1 Inspections as of June 30, 2020.