3-3. Journalizing and posting transactions Prepare general journal entries for the transactions below, using the general journal form on the following page. Post the journal entries to the general ledger accounts that follow the general journal form. The partial chart of accounts contains the account names to use in the general journal entries. Enter the account numbers in the general journal's post ref." column when you post the transactions to the general ledger accounts. Enter "1" in the ledger accounts postrel columns for the journal page number. Florida Outboard Motor Repair - Partial Chart of Accounts Account Name Cash in Bank Number 110 Parts Inventory 150 Equipment Notes Payable Common Stock 310 Sales Revenue 405 Repair Fees Cost of Goods Sold Rent Expense November 1 Jim Peterson starts Florida Outboard Motor Repair on November 1, 2027 by issuing 100 shares of no-par common stock to himself for $10,000 cash. He deposits the cash to his business checking account at First National Bank. November 2 Jim gets a $5,000 loan from First National Bank to use for additional start- up funds. The 5% loan is due in one year. The bank deposits the proceeds in Jim's business checking account. November 2 Jim rents space for a repair shop for one month and pays $800 cash. November 3 Jim buys equipment for $2,000 and pays cash. November 3 Jim buys parts inventory for $500 and pays cash. November 4 Don Noble is Jim's first customer. Noble asks Jim to repair a boat Jim uses parts costing $30. He gives Noble a sales invoice for S6 and $100 in labor. Noble gives Jim a check for $160. a boat motor for $60 in para Page 1 Date 2027 General Journal Post Description Ref. Debit Credit 111111111 General Ledger Account Name Cash in Bank Account Number 110 Balance Credit Debit Credit Post Ref. Date ance Description Debit Account Name Parts Inventory Date Post Description Ref. Account Number 150 Balance Credit Debit Credit Debit Account Name Equipment Date 2027 Description Post Ref. Account Number 180 Balance Credit Debit Credit Debit Account Name Notes Payable Date Post 2027 Description Ref. Account Number 220 Balance Credit / Debit Credit Debit Account Name Common Stock Date Post 2027 Description Ref. Account Number 310 Balance Credit Debit Credit Debit Account Name Sales Revenue Date Post 2027 Description Ref. Account Number 405 Balance Credit Debit Debit Credit Account Name Repair Fees Date 2027 Description Account Number 410 Balance Debit Credit Post Credit Debit Ref. Account Name Cost of Goods Sold Date Post Description Ref. Account Number 510 Balance Credit Debit Credit 2027 Debit Account Name Rent Expense Date Post 2027 Description Ref. Account Number 520 Balance Credit Debit Credit Debit