COMPREHENSIVE PROBLEM Business Transactions December 1 Jim starts his business by depositing $40,000 cash into his bank account. 4 Jim buys equipment of $20,000 with $5,000 cash and he owes $15,000 on account 8 Jim buys office supplies of $1,000 with cash 9 Jim buys an insurance policy of $1,200 with cash 12 Jim pays rent of $700 with cash 14 Jim performs services and is paid $6,000 cash 17 Jim pays wage expense of $1,000 in cash 19 Jim buys equipment with cash of $2,000 20 Jim performs services of $7,000 receiving $2,000 in cash is owed $5,000 on account by the customer. 22 Jim makes a $3,000 cash payment on account for the equipment he purchased Apr 4th 24 Jim pays the telephone bill of $300 with cash 25 Jim buys office supplies of $800 on account. 26 Jim withdrew $1,000 of cash for personal use. 29 Jim receives partial payment on account from his customer of $3,000. 30 Jim makes a $4,000 cash payment on account for the equipment he purchased Apr 4th. A) Enter these transaction properly into a general journal B) Post these transactions properly into the general ledger C) At 12/31, Jim obtains the following info needed for adjusting entries. Supplies on hand are $400. Prepaid insurance still remaining to be used the next year is $1,000. Depreciation expense incurred for the year is $900. Jim's employees have earned and are owed $200 by 12/31. Enter the 4 adjusting entries into the general journal and post these into the general ledger. D) Make the 4 closing entries needed into the general journal and post these to the general ledger. E) Complete a trial balance after closing entries. Only assets, liabilities, and capital accounts will have a balance.