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A group of student investors in Jeddah opened Campus Laundromat Ltd. on September 1, 2017. During the first month of operations, the following transactions occurred

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A group of student investors in Jeddah opened Campus Laundromat Ltd. on September 1, 2017. During the first month of operations, the following transactions occurred . Sept. 1 Shareholders invested SAR 200,000 cash in the business in exchange for ordinary shares. 2 Paid SAR 10,000 cash for store rent for the month of September. 3 Purchased washers and dryers for SAR 250,000 , paying SAR 100,000 in cash and signing a SAR 150,000 on account. 4 Paid SAR 12,000 for a one-year accident insurance policy. 10 Received a bill from the Daily News advertising the opening of the Laundromat SAR 2,000. 20 Declared and paid a cash dividend to shareholders SAR 7,000. 25 Purchased supplies for SAR 500 by cash. 27 paid salaries and wages SAR 9000 for all 3 employees. 30 Determined that cash receipts for laundry fees for the month were SAR 62,000. 30 Insurance expires at the rate of SAR 1,000 per month. 30 Supplies on hand total SAR 460. 30 The equipment depreciates SAR 1000 a month. 30 the company paid salaries and wages on sept. 27; the next payment of salaries will not occur until Jan. 27 (salaries and wages for 3 days SAR 900) 30 performed services worth SAR 200 that were not billed to clients in sept. Instructions (a) Journalize the September transactions. (b) Open ledger accounts and post the September transactions. (c) Prepare a trial balance at September 30, 2017

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