2.2. Give examples of financial transactions relevant to service-based business:

a. On 1st January, the company started its business with a deposit in its bank account. (1 transaction)

b. The company received a loan from the bank and deposited it into its bank account. (1transaction)

c. The company paid Salaries to employees by cheque. (1 transaction)

d. The company received Interest revenues by cheque. (1 transaction)

e. Performance of services by cash and credit (2 transactions)

f. Purchase of an asset for cash and credit (2 transactions)

g. Received cheque from debtors (1 transaction)

h. Paid cheque to creditors (1 transaction)

i. From the financial transactions in the task (2.2), prepare the Pro-forma templates for the following:

. Journal entries for the above transactions.

. Post them to the appropriate ledger accounts

. Prepare the Trial balance from the ledger balances