Question

set up general ledger with following accounts: equipment, service fees, rent expense, salaries expense, delivery expense, advertising expense, utilities expense, supplies expense, and dividends. prepare journal entries and record the listed transactions in the appropriate T-accounts, then prepare a trial balance.

delete home end g up Dackspace um ock Pam Brown ouns Art Graphics, a flrm providing designs for advertisers and market analysts.on July P, the business's general ledger Showed the followrg normal account balances: COsh 0,800 AcLOunts Payable Accounts Rccevable lo,100 Notes Payable Common StocK 2,400 5,300 1,700 ReTaincd carnings 9,500 18,900 Total liabillities d cauity 18 900 Total Assers The following transactions acLurrcd during the month: 1) Paid rent 's970 2) Collected 87,H00 on account from customers 3) POid 82,800 installment due on the 35,300 noh-tntercst tbearing nute payoble 4)8illed customers 5) Rendered desigo sevices collected frum cosh cusrumers d 1500 6) Paid$1,700 to cred itos on accont 7) Collected $ 13, 050 on Gccount from cusTomers 8) Paid a deliveny service for deliuery of graphics to fims $ 200 9) POid July Salories B4,900 16) Receiued invoice for July aduertising cxpnse,ro ne paid an Aug. 8900 L) Paid uilites for Suly $650 12 > Paid Stuck boldes admdead Of 82,300 Cosh. 1B) Peceived invoice for Suplies osed in July to be poid in Aug. $2,5l60 14.5 Purchased cumputer for 84600 cOsh to be used in busines noxt month desgn scrices (Cndered on accont $ N6,850 OF Ozoz

Answer 1

Palm Brown
Trial Balance
31st July XXXX
Account	Debit	Credit
Cash	13,130
Account Receivable	6,500
Rent Expenses	970
Salaries Expenses	4,900
Delivery Expenses	700
Advertising Expenses	900
Utilities Expenses	650
Supplies Expenses	2,560
Dividend	2,300
Computer	4,600
Accounts Payable		5,160
Notes Payable		2,500
Common Stock		1,700
Retained Earning		9,500
Design Service Revenue		18,350
Total	37,210	37,210

Transaction Journal (Please insert appropriate narration for completion of Journal)

Transactions No.	Accounts	Debit	Credit
1	Rent Expenses	970
	Cash		970
2	Cash	7,400
	Account Receivable		7,400
3	Notes Payable	2,800
	Cash		2,800
4	Account Receivable	16,850
	Design Service Revenue		16,850
5	Cash	1,500
	Design Service Revenue		1,500
6	Accounts Payable	700
	Cash		700
7	Cash	13,050
	Account Receivable		13,050
8	Delivery Expenses	700
	Cash		700
9	Salaries Expense	4,900
	Cash		4,900
10	Advertising Expense	900
	Accounts Payable		900
11	Utilities Expenses	650
	Cash		650
12	Dividend	2,300
	Cash		2,300
13	Supplies Expense	2,560
	Accounts Payable		2,560
14	Computer	4,600
	Cash		4,600

Recording in T Account for Cash (Please complete other account in similar manner)

Cash Account
Debit	Amount	Credit	Amount
Opening Balance	8,800	Notes Payable	2,800
Account Receivable	7,400	Accounts Payable	700
Design Service Revenue	1,500	Delivery Expense	700
Account Receivable	13,050	Rent Expense	970
		Salaries Expense	4,900
		Utilities Expense	650
		Dividend	2,300
		Computer	4,600
		Closing Balance	13,130
Total	30,750	Total	30,750