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Ex. 2 (20p) The transactions of Medina Information Service are recorded in the general journal below. Post the journal entries to the accounts in the
Ex. 2 (20p) The transactions of Medina Information Service are recorded in the general journal below. Post the journal entries to the accounts in the general ledger. After all entries have been posted to the accounts prepare a trial balance on the form provided. General Journal J1 Date Account Titles and Explanation Ref. Debit Credit 2021 Sept. 1 20,000 20,000 4 30,000 Cash Owner's Capital (Invested cash in business) Equipment Cash Notes Payable (Paid cash and issued 2-year, 9%, note for equipment) Rent Expense Cash (Paid September rent) 10,000 20,000 8 1,000 1,000 18 2,500 2.500 20 SOO 500 25 100 Cash Service Revenue (Received cash for delivery services) Salaries and Wages Expense Cash (Paid salaries for current period) Utilities Expense Accounts Payable (Received a bill for September utilities) Owner's Drawings Cash (Withdrew cash for personal use) Accounts Receivable Service Revenue (Billed customer for delivery service) 100 30 1.500 1,500 30 2,000 2,000 Ex.2 (cont.) Salaries and Wages Expense Account No. 726 Date Explanation Ref. Debit Credit Balance Utilities Expense Account No. 735 Date Explanation Ref. Debit Credit Balance MEDINA INFORMATION SERVICE Trial Balance September 30, 2021 Accounts Debit Credit Ex.2 (cont.) Notes Payable Account No, 205 Date Explanation Ref. Debit Credit Balance Owner's Capital Account No. 301 Credit Balance Date Explanation Ref Debit Owner's Drawing Ref. Account No. 306 Credit Balance Date Explanation Debit Service Revenue Account No. 400 Date Explanation Ref Debit Credit Balance Rent Expense Account No. 719 Credit Balance Date Explanation Ref Debit
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