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1. Create Journal using the above transactions for the month ended 31 May 2. Post all the journals from (1) to the general ledger and
1. Create Journal using the above transactions for the month ended 31 May
2. Post all the journals from (1) to the general ledger and prepare a trial balance as at 31 May.
Account no. Account Description \begin{tabular}{|l|l|l|} \hline Month & Day & Event \\ \hline & 24 & Receivedcashof$2,750fromcustomerswhopurchasedearlierinthemonthoncredit.Thiscashwasdepositedtothebusinessbankaccount. \\ \hline & 31 & Paid assistant's monthly wages expense of $1,833 by transfer from the business bank account. \\ \hline 31 & Recordedrevenueforthesecondhalfofthemonthof$11,190depositedtothebusinessbankaccountascashand$3,700oncredit. \\ \hline- & 31 & Enteredintoacontractfordeliveryofelectricvehicle,atacostof$60,000whichistobeusedforthebusiness.Thevehiclewillbedeliveredin2weekstime.Nocashpaymentshaveyetbeenmadeinrelationtothecontract. \\ \hline & 31 & Invoicereceivedfromthelocalnurseriesassociationforadvertisingof$1,430.Theinvoicewaspaidbytransferfromthebusinessbankaccount \\ \hline \end{tabular}Step by Step Solution
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