Department : Mechanical Engineering Subject : Accounting

1. a. Describe the advantage of trial balance. b. On August 1, 2019 Mark Spencer established Spencer's Travel Agency. During the month the following transactions occurred. Journalize the August transactions. 1. Invested $15,000 in cash in the agency. 2. Paid $600 for August rent on office expense. 3. Incurred $700 of advertising costs in the Morning Times, on account. 4. Performed service worth $10000: $3000 cash is received from customer, and the balance of $7000 is billed to customers on accounts. 5. Received $4000 in cash from customers who have previously been billed in transaction