Bob Sample and other student investors opened Campus Laundromat Inc. on September 1, 2014. During the first month of operations, the following transactions occurred.

The chart of accounts for the company is the same as for Pioneer Advertising Agency Inc.
except for the following: No. 610 Advertising Expense.

Instructions

(a) Journalize the September transactions.

(b) Open ledger accounts and post the September transactions.

(c) Prepare a trial balance at September 30, 2014.

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Sept. 1 Stockholders invested $20,000 cash in the business. 2 Paid $1,000 cash for store rent for the month of September. 3 Purchased washers and dryers for $25,000, paying $10,000 in cash and signing a $15,000, 6-month, 12% note payable. Paid $1,200 for a one-year accident insurance policy. Received a bill from the Daily News for advertising the opening of the laundromat $200. 20 Declared and paid a cash dividend to stockholders $700. 30 Determined that cash receipts for laundry fees for the month were $6,200. 4 10