Journalize and post basic transactions Precision Grading Co. was organized to grade construction sites. * On June 1. owner Dave Precision deposited $90,000 in a new bank account opened in the name of the business in exchange for stock. * On June 3, the company acquired grading equipment costing 589,000, paying $43,000 cash and signing a note payable for the balance On June 10, the company paid $13,000 of the amount owed for equipment acquired on June 3. Instructions: Journalize these three transactions and post to the ledger accounts. GENERAL JOURNAL Page 1 Date Account Titles & Explanations Debat Credit Cash Account No. 1 Credit Balance Date Explanation Debut Grading Equpment Account No. 25 Credit Balance Date Explanation Debit 8&cmid=84711&page=4#q15 Cash Date Explanation Account No. 1 Credit Balance Debit Grading Equipment Date Explanation Account No. 25 Credit Balance Debit Notes Payable Date Explanation Account No. 40 Credit Balance Debit Capital Stock Date Explanation Account No 50 Credit Balance Debit