The journal of Benesh Company follows: Date Account and Explaination Ref Debit Credit Aug. 2 Cash 6000
Question:
The journal of Benesh Company follows:
Date Account and Explaination Ref Debit Credit
Aug. 2 Cash 6000
Dana Benesh, Capital 6000
Aug. 3. Cash 15000
Note payable 15000
Aug. 9 Supplies 270
Account Payable 270
Aug. 11 Accounts Receivable 2630
Sale Revenue 2630
Aug. 14 Rent Expenses 4200
Cash 4200
Aug. 22 Cash 1400
Accounts Receivables 1400
Aug. 25 Advertising Expense 350
Cash 350
Aug. 27 Account Payable 270
Cash 270
Aug. 31 Utilities Expense 220
Account Payable 220
Required
1. Describe each transaction
2. Post the transactions to the ledger using the following account number: Cash 110. Account Receivable 120, Supplies 130, Account Payable 210, Note Payable 230, Dana Benesh Capital 310, Sales Revenue 410, Rent Expenses 510, Advertising Expense 520, Utilities Expense 530. Use dates, Journal references and posting references. You may write the account numbers ad posting references directly to your book
3. Compute the balamces in each account after posting. Preapared Benesh Company Trial Balance at August 31, 19X6