XYZ Company has started a small business and completed the following transactions during the first month...

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XYZ Company has started a small business and completed the following transactions during the first month (January 2022). a. XYZ Co. invested SR 1,500,000 cash to start the company. b. The company paid SR 50,000 cash for rent expense c. The company purchased an equipment on credit for SR 80,000. d. The company paid SR 20,000 cash as partial payment for transaction c. e. The company completed work for a client and collected SR 25,000 cash. Required 1. Prepare general journal entries to record these transactions. 2. Post the journal entries to ledger accounts (T-accounts) and enter the balance for each account. 3. Prepare a trial balance as of the end of January 2022. XYZ Company has started a small business and completed the following transactions during the first month (January 2022). a. XYZ Co. invested SR 1,500,000 cash to start the company. b. The company paid SR 50,000 cash for rent expense c. The company purchased an equipment on credit for SR 80,000. d. The company paid SR 20,000 cash as partial payment for transaction c. e. The company completed work for a client and collected SR 25,000 cash. Required 1. Prepare general journal entries to record these transactions. 2. Post the journal entries to ledger accounts (T-accounts) and enter the balance for each account. 3. Prepare a trial balance as of the end of January 2022.

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Prepare general journal entries a XYZ Co invested SR 1500000 cash to start the company Debit Cash SR ... View the full answer