Double-Entry Bookkeeping The transactions of Wheels Repair Shop for January 2019 are shown below January 3-Debby Star opened a bank account under the name of her new business and deposited E30,000 in cash. January 4-She rented a temporary shop and paid E300 for the January rent, issued cheque. amount of 80 was paid for January, issued cheque. Company for 400 on account. one-year note payable for the balance. be opened in his name. He promised to settle the account within 30 days. This arrangement was authorized by January 5-Rented automotive tools and equipment until the firm could purchase its own. Rent in the January 5-Purchased motorcycle parts and supplies described on invoice from the Southern Supply January 10-Purchased land as a prospective building site for 10,000. Paid E4,000 in cash and issued a January 12- Made repairs on George Shipman's motorcycle for E40. Shipman asked that a charge account service manager January 26-Made repairs on Jay Munson's motorcycle for 180. A charge account was opened in his name. January 29 Purchased motorcycle parts and supplies from Delco Supply House for 250 on account January 29- Paid the Southern Supply 300 on account (cheque) January 31- Paid electricity and water bills of 80 for January January 31-Paid 1,700 in salaries for the month January 31-Made motorcycle repairs for various cash customers for 4,800 January 31-Debby Star withdrew 300 in cash in anticipation that at least as much income had been earned January 31-Purchased automotive tools and equipment for cash 4,000. The list price was 5,000. January 31-Paid a premium of 600 on a 12 months insurance policy, it becomes effective on February 1, 2019. January 31-Received a cheque for 10 from George Shipman. Required: (a) Analyze the transactions using extended accounting equation formula (b) Journalize the transactions (c) Post to the ledger (d) Prepare a trial balance sheet / footing (a) Extended accounting equation formula: Journal of transactions Dr January 3, 2019 Bank E30,000 Capital E30,000