This is the trial balance of Mimosa Company on September 30.
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MIMOSA COMPANY |
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|
Debit |
Credit |
|
|
Cash |
$8,200 |
|
|
Accounts Receivable |
2,600 |
|
|
Supplies |
2,100 |
|
|
Equipment |
8,000 |
|
|
Accounts Payable |
$4,800 |
|
|
Unearned Service Revenue |
1,100 |
|
|
Common Stock |
15,000 |
|
|
$20,900 |
$20,900 |
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The October transactions were as follows.
Oct. 5 Received $1,300 in cash from customers for accounts receivable due.
10 Billed customers for services performed $5,100.
15 Paid employee salaries $1,200.
17 Performed $600 of services for customers who paid in advance in August.
20 Paid $1,900 to creditors for accounts payable due.
29 Paid a $300 cash dividend.
31 Paid utilities $400.
Instructions
(a) Prepare a general ledger using T accounts. Enter the opening balances in the ledger accounts as of October 1. Provision should be made for these additional accounts: Dividends, Service Revenue, Salaries and Wages Expense, and Utilities Expense.
(b) Journalize the transactions, including explanations.
(c) Post to the ledger accounts.
(d) Prepare a trial balance on October 31, 2012.