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Company Name: Psi Consulting Issued common stock for $105,000. Purchased $40,000 of office furniture. Paid $3,800 for rent. Billed $20,000 to clients. Paid $3,500 in
Company Name: Psi Consulting
- Issued common stock for $105,000.
- Purchased $40,000 of office furniture.
- Paid $3,800 for rent.
- Billed $20,000 to clients.
- Paid $3,500 in wages.
- Received $19,000 from a bank loan.
- Paid $1,600 for utilities.
- Purchased $1,100 of office supplies.
- Received $9,000 from clients billed earlier.
- Paid $700 for advertising.
Requirement: Record the above transactions in the general journal and prepare a trial balance.
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