Selected transactions from the journal of Galaxy Inc. during its first month of operations are presented here.
|
Date |
Account Titles |
Debit |
Credit |
|
Aug. 1 |
Cash |
8,000 |
|
|
Common Stock |
8,000 |
||
|
10 |
Cash |
1,700 |
|
|
Service Revenue |
1,700 |
||
|
12 |
Equipment |
6200 |
|
|
Cash |
1200 |
||
|
Notes Payable |
5000 |
||
|
25 |
Accounts Receivable |
3400 |
|
|
Service Revenue |
3400 |
||
|
31 |
Cash |
600 |
|
|
Accounts Receivable |
600 |
Instructions
(a) Post the transactions to T accounts.
(b) Prepare a trial balance at August 31, 2012.