Question: QUESTION 2 [12 MARKS) On May 1, 2022, Pam Laundry began its operations. The following transactions were completed during the month. May 1 Owner

QUESTION 2 [12 MARKS) On May 1, 2022, Pam Laundry began its

QUESTION 2 [12 MARKS) On May 1, 2022, Pam Laundry began its operations. The following transactions were completed during the month. May 1 Owner Invested $30,000 in cash to start the business 6 Purchased equipment for $5,500 on account. 12 Performed services for customers and billed customers for $16,000. 18 Paid rent for month, $1,300. 25 Received $3,500 cash advance from customers for services REQUIRED: a) Journalize the transactions. b) Post to the ledger accounts. c) Prepare a Trial Balance as at May 31, 2022. 15 Marks) [3 Marks) Answer Sheet: Question 2 (a) [4 Marks] GENERAL JOURNAL Date Accounts Title Debit Credit 3

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