Bob Sample opened the Campus Laundromat on September 1, 2014. During the first month of operations, the following transactions occurred.
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1 |
Bob invested $20,000 cash in the business. |
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;2 |
The company paid $1,000 cash for store rent for September. |
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3 |
Purchased washers and dryers for $25,000, paying $10,000 in cash and signing a $15,000, 6 month, 12% note payable. |
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4 |
Paid $1,200 for a one year accident insurance policy. |
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10 |
Received a bill from the Daily News for advertising the opening of the laundromat $200. |
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20 |
Bob withdrew $700 cash for personal use. |
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30 |
The company determined that cash receipts for laundry services for the month were $6,200. |
Instructions
(a) Journalize the September transactions. (Use J1 for the journal page number.)
(b) Open ledger accounts and post the September transactions.
(c) Prepare a trial balance at September 30, 2014.