In June, Landis Saunders of Lou's Auto Spa of Ontario had the following transactions:

2021 June: Trail balance Total $14555

1. L. Saunders invested $10,000 in the new auto spa.

4. Bought cleaning equipment for cash, $3500.

5. Earned cleaning fees, $2500, but payment from Avon Co. will not be received until July.

8. Paid wages expense, 700.

11. L. Saunders paid her home cable bill using a company cheque, $100.

12. Cleaned a fleet of cars, receiving $1900 cash.

15. Paid cash for cleaning supplies, $500

28. Telephone bill was received but not yet paid, $155

29. Advertising bill paid $250.

The chart of accounts includes Cash,111; Accounts Receivable, 112; Cleaning supplies, 131; cleaning equipment, 141; Accounts payable, 211; L. Saunders, Capital, 311; L. Saunders, withdrawals, 321; cleaning fees earned, 411; Wages expense, 511; Telephone expense, 521; Advertising expense, 531.

Required:

a. Journalize and post transactions.

b. Prepare a trial balance for June 30, 2021.

Answer rating: 100% (QA)

Lous Auto Spa General Journal Account Titles and Explanations 1 S No Date Debit Credit 2021 Junel 1 ... View the full answer