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Ethan opened the Electronics service center on September 1, 2020. During the first month of operations the following transactions occurred: Sept: 1 Ethan invested $1,20,000
Ethan opened the Electronics service center on September 1, 2020. During the first month of operations the following transactions occurred: Sept: 1 Ethan invested $1,20,000 cash in the business. Sept:6 Paid $15,000 cash for shop rent for next month. Sept: 8 Purchased equipment for $50,000, paying $30,000 in cash and signing a $20,000 note. Sept: 15 Received $9,000 advance for service in next month. Sept: 21 Paid employee $8,000 in cash. Sept: 25 Ethan withdrew $1,000 cash for personal use. Sept: 29 The company determined that cash receipts for services for the month were $20,000. Required: (a) Journalize the September transactions. (b) Prepare the ledger accounts from the journal book. (c) Prepare a trial balance for the month September 30, 2020
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