Manny Gill is an entrepreneur who started West Secure, a business that provides a number of security guard services.

Transcribed Image Text:

Manny Gill is an entrepreneur who started West Secure, a business that provides a number of security guard services. West Secure incurred the following transactions during July 2020, it first month of operations: • July 1- The owner, Manny Gill, invested $5200 cash. July 10 – Purchased $2700 worth of security equipment on credit. July 12 – Performed security services for a sold-out concert and received $12000 cash from the client. July 14 – Paid for expenses; $3700 July 15 - Completed security services for a graduation event and sent the client a bill for $1600. July 31 – The owner withdrew $270 cash for personal use. REQUIRED: 1. Use the transactions above to prepare a General Journal as at July 31, 2020. o The account number for the respective accounts are as follows: o Cash, 101; Accounts Receivable, 106; Equipment, 150; Accounts Payable, 201; Manny Gill, Capital, 301; Manny Gill, Withdrawals, 302; Revenue, 401; Expenses, 501 2. Post the July journal entries into your General Ledger. Include the dates, account numbers and post reference numbers. Determine the balances. 3. Prepare a Trial Balance using the balances in your general ledger accounts. Manny Gill is an entrepreneur who started West Secure, a business that provides a number of security guard services. West Secure incurred the following transactions during July 2020, it first month of operations: • July 1- The owner, Manny Gill, invested $5200 cash. July 10 – Purchased $2700 worth of security equipment on credit. July 12 – Performed security services for a sold-out concert and received $12000 cash from the client. July 14 – Paid for expenses; $3700 July 15 - Completed security services for a graduation event and sent the client a bill for $1600. July 31 – The owner withdrew $270 cash for personal use. REQUIRED: 1. Use the transactions above to prepare a General Journal as at July 31, 2020. o The account number for the respective accounts are as follows: o Cash, 101; Accounts Receivable, 106; Equipment, 150; Accounts Payable, 201; Manny Gill, Capital, 301; Manny Gill, Withdrawals, 302; Revenue, 401; Expenses, 501 2. Post the July journal entries into your General Ledger. Include the dates, account numbers and post reference numbers. Determine the balances. 3. Prepare a Trial Balance using the balances in your general ledger accounts.

Answer rating: 100% (QA)

General Journal WEST SECURE General Journal Entries For the Month Ended July 31 2020 Page 1 Date Description PR Debit Credit 1Jul Cash 101 5200 Manny ... View the full answer