Analyze and record the journal entries for following transactions-

Bells company had the following transactions in the month of August

August 1 Joseph Eetok, the owner, invested $20,000 cash into the business

And also invested a photography equipment with a fair value $42,000

1 Rented a studio, paying $12,000 for the next three months in advance.

5 Purchased Office Supplies for $1,800 cash

20 Received $9,200 in photography revenue

31 Paid $1,400 for August utilities

31. The owner brought 10,000 cash additional to the business. 6 marks

Part II General Ledger accounts and Trial Balance- Set up the Following Accounts (use the balance format): - Cash (101), Office Supplies (124); Prepaid Rent (131); Photography Equipment (167), Joseph Eetok, Capital (301); Photography Revenue (401) and Utilities Expense (690).

Post the above journal entries to the general ledger (Balance Column Format). Prepare The August 31,2017

Trial Balance