Journalize and post business transactions for the following account: General Ledger 101 Cash in Bank 102 Accounts
Question:
Journalize and post business transactions for the following account:
General Ledger
101 Cash in Bank
102 Accounts Receivable
120 Grooming Supplies
130 Office Furniture
140 Grooming Equipment
205 Accounts Payable
301 Rex s Capital
305 Rex s Withdrawals
402 Boarding Revenue
410 Grooming Revenue
505 Salary Expenses
January 2005
Jan 1 Rex invested $5,000 in the business, Memorandum 10.
Jan 3
Rex transferred furniture valued at $2,000 to the business, Memorandum 11.
Jan 10
Issued check No. 501 for $400 for grooming supplies.
Jan 15
Bought grooming equipment on account for $2000 from Pets Inc.; Invoice 201.
Jan 17
Paid Pets, Inc. $500; check No. 105.
Jan 20
Rex withdrew $1,000 cash from business; check No. 59.
Jan 29
Salary paid to employee: $300 via check No. 60.
Jan 30
Deposited $2,000 received from client for rendering service; Receipt Nos. 124-130
Expert Answer:
Date Jan01 Jan03 Jan10 Jan15 Jan17 Jan20 Jan29 Jan30 Accounts title and explanation D... View the full answer
