Jack Smith opened a new business on July 1. The name of the company is Computer Services.On July 1 Jack Smith deposited $3000 into his business account as his initial investment.On July 2 he purchased office furniture for $900 cash for his new office.On July 3 he paid $600 rent for his store.On July 6 he paid $350 for advertising expense.On July 7 he purchased a laptop for $999 on credit by signing a note.On July 9 he received $700 for services provided to a client.On July 18 he paid his assistant $275.On July 22 he provided $650 of services on account and issued the client a bill.On July 26 he paid a $333 installment towards the principle on the note entered into on July 7.On July 28 he received $175 of the amount billed on July 22.On July 30 Jack withdrew $500 for personal use.Requirements:A. Prepare general journal entries for each of the following transations.B. Post the journal entries from A. to the ledger accounts.C. Prepare a Trial Balance

Categories: Uncategorized


Leave a Reply

Your email address will not be published. Required fields are marked *