Question: Exercise #2 (3 marks) David Peters opened a coffee shop on 1 July 2012. The following trans during the first month of operations (ignore GST

Exercise #2 (3 marks) David Peters opened a coffee shop on 1 July 2012. The following trans during the first month of operations (ignore GST a. actions occurred July 2 business cheque account with XYZ Bank. (1 mark) Peters invested $30 000 in the business by depositing cash into a Paid $1200 for the first month's rent (1 mark) Prepare the general journal entries to record the transactions. Garden Supplies paid on 30 April 2011 the month's telephone bill of S170 plus GST. Write down the effect of this transaction in the General Journal. (1 mark) b

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