The journal of Benesh Company follows:

Required 1. Describe each transaction.
2. Post the transactions to the ledger using the following account numbers: Cash, 110; Accounts Receivable, 120; Supplies, 130; Accounts Payable, 210; Note Payable, 230; Common Stock, 310; Sales Revenue, 410; Rent Expense, 510; Advertising Expense, 520; Utilities Expense, 530. Use dates, journal references, and posting references as illustrated in Exhibit 2-8. You may write the account numbers as posting references directly in your book unless directed otherwise by your instructor.
3. Compute the balance in each account after posting. Prepare Benesh Company's trial balance at August 31, 19X6.
Journalizing transactions (Obj. 3)

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Journal Page 5 Post. Date Accounts and Explanation Ref. Debit Credit Aug. 2 Cash.. 6,000 Common Stock. 6,000 5 Cash. 15,000 Note Payable.. 15,000 9 Supplies......... 270 Accounts Payable. 270 11 Accounts Receivable. 2,630 Sales Revenue 2,630 14 222 25 14 Rent Expense.. 4,200 Cash 4,200 22 Cash. 1,400 Accounts Receivable. 1,400 25 Advertising Expense. 350 Cash 350 27 Accounts Payable. 270 Cash 270 31 Utilities Expense 220 Accounts Payable. 220