Selected transactions from the journal of Galaxy Inc. during its first month of operations are presented here.
| Date Don't use plagiarized sources. Get Your Custom Essay on selected transactions from the journal of galaxy inc during its first month of opera 534336 For $10/Page 0nly | 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.
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