Completing the general ledger

Copy of ACCT503 W3 Case Study-Mica Home Insert Page Layout Formulas Data ReviewView Cut 10. Aa" =-w 9-) ,wrap Tent General Paste Clipboard Font Alignment Number B41 Salary Expense 1 Requirement #1 2 During its first month of operation, the Quick Tax Corporation, which specializes in tax preparation, 3 completed the following transactions 5 July 1 Began business by making a deposit in a company bank account of $40,000, in exchange for 4,000 shares of $10 par value common stock 8 July 3 Paid the current month's rent, $2,500 July 5 Paid the premium on a 1-year insurance policy, $3,600 12 July7 13 Purchased supplies on account from Little Company, $700 14 July 10 Paid employee salaries, $2,800 6 July 14 Purchased equipment from Lake Company, $9,500 Paid $1,500 down and the balance was 20 July 15 Received cash for preparing tax returns for the first half of July, $6,500 4 July 31 Received cash for preparing tax returns for the last half of July, S8.250 placed on account. Payments will be $500 00 per month for 20 months. The first payment is due 8/1 Note: Use accounts payable for the balance due 17 19 21 22 July 19 Made payment on account to Lake Company, $500 23 25 26 July 31 Declared and paid cash dnidends of $450 27 28 29 Prepare journal entries to record the July transactions in the General Journal below. 30 Instructions Journal Entries General Ledger Tral Baance Adustng EntriesAdusted Trol Ba O Type here to search