The journal of Alumet Defensive Driving for July 2016 is shown below:

Required
1. Describe each transaction.
2. Set up T-accounts using the following account numbers: Cash, #1000; Accounts Receivable, #1200; Supplies, #1400; Accounts Payable, #2000; Tomas Misheal, Capital, #3000; Service Revenue, #4000; Advertising Expense, #5100; Rent Expense, #5600; Fuel Expense, #5800.
3. Post to the T-accounts. Identify each transaction by date. You may write the account numbers as posting references directly in the journal in your book unless directed otherwise by your instructor. Compute the balance in each account after posting.

Transcribed Image Text:

Journal 2016 Jul. 2 Page 5 Account Titles and Explanations Post. Retf Debit Credit Cash 5,600 Tomas Misheal, Capital 5,600 9 Supplies 54 Accounts Payable 54 Accounts Receivable 1,620 Service Revenue 1,620 14 Rent Expense 1,400 Cash 1,400 22 Cash 280 Accounts Receivable 280 25 Advertising Expense 590 Cash 590 27 Accounts Payable 54 Cash 54 31 Fuel Expense 564 Accounts Payable 564