Name

Mya Franklin

THE RECORDING PROCESS

Task #$1$

Mya Franklin began a restaurant consulting company. Below are events and transactions that occurred during the first month of operations.

$($a$)$ Prepare the necessary general journal entries. If no entry is needed put N$/$A$.$

$($b$)$ Post journal entries to the ledger accounts.

$($c$)$ Prepare the month end trial balance.

May $1$ Mya Franklin invested $$37,000$ cash $to$ start a consulting business.

$2$ Hired a receptionist $at$ a salary $of$ $$1,500$ per month.

$3$ Purchased $$900of$ supplies, $on$ account, from Office Supply Company.

$7$ Paid office rent $of$ $$2,000$ for the month

$11$ Billed client $$1,700$ providing consulting services.

$12$ Received $$5,000$ advance $on$ a consulting engagement.

$17$ Received cash $of$ $$1,400$ for services completed for Mutter Company.

$31$ Paid receptionist salary for the month.

$31$ Paid $30\%of$ the balance due $to$ Office Supply Company.

$($a$)$

$\backslash$table$[[$General Journal$],[$Date$,$Account Titles $($Explanation NOT required$),$Ref.,Debit,Credit$],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,]]$

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