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Assignment 1 [PART A, 10%] Alamein opened Alamein Cleaning Services (ACS) on July 1, 2017. During July, the following transactions took place: July 1 Alamein

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Assignment 1 [PART A, 10%] Alamein opened Alamein Cleaning Services (ACS) on July 1, 2017. During July, the following transactions took place: July 1 Alamein invested $20,000 in the business. July 1 ACS purchased a used truck for $12,000, paying $4,000 cash, with the balance on account. The truck is expected to be used for 5 years and after which it will disposed off for $2,000. July 3 ACS purchased cleaning supplies for $2,100 on account. July 5 ACS paid $1,800 cash on 1-year insurance policy effective July 1". July 12 ACS billed customers $4,500 for cleaning services. July 18 ACS paid $1,500 cash on amount owed on truck and $1,400 on amount owed on cleaning supplies. July 20 ACS paid $2,800 cash for employee salaries. July 21 ACS collected $3,400 cash from customers billed on July 12. July 25 ACS billed customers $6,000 for cleaning services. July 31 ACS paid $350 for the monthly gasoline bill for the truck. July 31 ACS withdrew $5,600 cash for personal use. Required 1. Prepare journal entries for the above transactions. 2. Post the journal entries into the ledger. 3. Extract a trial balance as at July 31* 2017

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