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Company Name: Upsilon Education Received $110,000 from issuing common stock. Purchased $45,000 of educational equipment. Paid $4,500 for rent. Billed $22,000 to students. Paid $4,500
Company Name: Upsilon Education
- Received $110,000 from issuing common stock.
- Purchased $45,000 of educational equipment.
- Paid $4,500 for rent.
- Billed $22,000 to students.
- Paid $4,500 in wages.
- Received $15,000 from a bank loan.
- Paid $1,800 for utilities.
- Purchased $1,200 of office supplies.
- Received $9,000 from students billed earlier.
- Paid $700 for advertising.
Requirement: Record the above transactions in the general journal and prepare a trial balance.
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