George Bucket established a cleaning business on 1 August 2018. The following transactions occurred during the month:

1. George started the business by contributing $10 000 in cash

2. Purchased cleaning supplies for $500 on credit

3. Purchased cleaning equipment for $2200 cash

4. Leased a van, paying one month’s lease for August, $350

5. Received cash for cleaning offices, $520

6. Paid half of the amount owning in b

7. Billed customers for cleaning of offices, $780

8. Paid wages to a part-time helper, $130

9. Paid for an advertisement in the local newspaper, $80

10. Received $390 from customers billed in g

Required:

a) Prepare journal entries.

b) Post to the ledger accounts (T-account form).

c) Prepare trial balance.

d) Prepare closing journal entries.

e) Prepare income statement and balance sheet.