1st of July. Two people each invested $30,000 in the corporation. Each investor has issued $3,000 shares of common stock.

1. He borrowed $40,000 from a local bank and signed two promissory notes. The first $10,000 note requires payment of principal and 10% interest in six months. The second not for $30,000 requires the payment of principal in two years. Interest at 10% is payable each year on July 1, 2017 and July 1, 2018.

1. You paid $24,000 in advance for one year's rent on the store building.

1. She purchased furniture and accessories from Acme Furniture for $12,000 cash.

3. You purchased $60,000 of clothing inventory on account from Birdwell Wholesale Clothing Company.

6. She bought $2,000 of supplies for cash.

4-31 During the month, you sold merchandise costing $20,000 for $35,000 in cash.

9. He sold clothes on account of st. Jude school for girls for $3,500. The clothes cost $2,000.

16. He subleased a part of the building to a jewellery store. He received $1,000 up front for the first two months of rent starting July 16.

20. He paid $25,000 Birdwell wholesale clothing into the account.

20, Payment of salaries to employees for the first half of the month, $5,000.

25. He received $1,500 on account of st. Judas

30. The corporation paid its shareholders a cash dividend of $1,000.

Provide 

1. Journal Entry

2. Post to General Ledger Account

3. Post to trial balance