selected transactions from the journal of galaxy inc during its first month of opera 534336
Selected transactions from the journal of Galaxy Inc. during its first month of operations are presented here.
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selected transactions from the journal of galaxy inc during its first month of opera 534336
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Account Titles |
Debit |
Credit |
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Aug. 1 |
Cash |
8,000 |
|
|
Common Stock |
8,000 |
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|
10 |
Cash |
1,700 |
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|
Service Revenue |
1,700 |
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|
12 |
Equipment |
6200 |
|
|
Cash |
1200 |
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|
Notes Payable |
5000 |
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|
25 |
Accounts Receivable |
3400 |
|
|
Service Revenue |
3400 |
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|
31 |
Cash |
600 |
|
|
Accounts Receivable |
600 |
Instructions
(a) Post the transactions to T accounts.
(b) Prepare a trial balance at August 31, 2012.
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