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Coca-Cola Company has the following transactions for the month of August 2024: Sold beverages for $30,000,000, receiving $20,000,000 in cash and the remainder on account.

Coca-Cola Company has the following transactions for the month of August 2024:

  • Sold beverages for $30,000,000, receiving $20,000,000 in cash and the remainder on account.
  • Purchased raw materials worth $12,000,000 on credit.
  • Paid $4,000,000 in cash for advertising.
  • Received $5,000,000 in cash from customers on account.
  • Issued common stock for $10,000,000 in cash.

Prepare the general journal entries and create the trial balance as of August 31, 2024.

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