Question
Bob Sample opened the Campus Laundromat on September 1, 2019. During the first month of operations, the following transactions occurred. September 01 Bob invested $20,000
Bob Sample opened the Campus Laundromat on September 1, 2019. During the first month of operations, the following transactions occurred.
September 01 | Bob invested $20,000 cash in the business. |
September 02 | The company paid $1,000 cash for store rent for September |
September 03 | Purchased washers and dryers for $25,000, paying $10,000 in cash and signing a $15,000, 6-month, 12% note payable |
September 04 | Paid $1,200 for a one-year accident insurance policy |
September 08 | Hire a store keeper in the Campus Laundromat. |
September 10 | Received a bill from the Daily News for advertising the opening of the Laundromat $200. |
September 20 | Bob withdrew $700 cash for personal use. |
September 30 | The company determined that cash receipts for laundry services for the month were $6,200. |
Requirements:
- Journalize the above transactions in the books of Campus Laundromat.
- Show the ledger accounts for Cash Account only. (You can use T format OR Standard format to prepare ledger account)
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