BrightFuture Education
1.Issued $500,000 in bonds payable.
2.Purchased educational materials for $200,000.
3.Paid $25,000 for insurance.
4.Provided tutoring services worth $150,000 (cost $70,000) on credit.
5.Paid $80,000 in salaries.
6.Received $100,000 from clients.
7.Paid $10,000 for office maintenance.
Requirement: Record transactions, prepare the general ledger, and create a cash flow statement.