Courtland Cougars are a minor league hockey team owned and operated by Amna Persaud. October is the
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Question:
Required Part 1: Record each of the transactions below in theT-account ledger.
After finishing the transactions, calculate and record the account balances.
Part 2: Prepare a trial balance.
Transactions October:
1: Amna starts her business with a cash balance of $5 000, a team bus worth $40 000, and a bank loan of $10 000 (due in 2 years).
3: Courtland Press issues an invoice to Amna for an advertisement in the local newspaper, $400.
7: Purchased $4 000 worth of food and drink to be sold during games from Fresh Concessions, on the account.
14: Issued cheques to pay the office staff, $3 600.
19: Amna took out $750 for personal use.
21: SCI Accountants, a successful accounting firm in the city, purchased $800 worth of tickets for the first game, to be paid for next month.
24: Paid $300 cash for gas for the team bus.
28: Issued a cheque for $2 100 to the local arena for rent.
29: The week's sale of tickets for the opening game brought in $8 700 in cash.
29: Issued cheques for $9 800 to pay the players' salaries.
30: Made a $700 payment on the bank loan.
31: Paid $470 to Rogers Communications for office staff cell phones bill.
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