Question
y Wheeler opened Benny's Bowling Alley during July 2010 and completed the transactions ei,ow during its first month of operations. For the sake of
y Wheeler opened Benny's Bowling Alley during July 2010 and completed the transactions ei,ow during its first month of operations. For the sake of simplicity, GST is ignored. July 1 2 4 6 15 24 31 31 31 Invested $60 500 capital in the business. Purchased bowling balls and other equipment costing $65000 With a cheque for $25000 and a loan for $40000. Paid $300 for advertising. Purchased supplies on credit for $950. Recorded cash revenue for the first half of the month of $3500. Withdrew $700 from the business bank account for personal use. Recorded cash revenue for the second half of the month of $4320. Paid wages of Sl 100. Paid rent for July, $900. tse the following account titles and numbers: Cash at Bank, 1100 Supplies, 1-110 Equipment, 1120 Accounts Payable, 2100 Loan Payable, 2110 B. Wheeler, Capital, 3-100 B. Wheeler, Drawings, 3110 Revenue, 4100 Rent Expense, 5100 Advertising Expense, 5110 Wages Expense, 5120
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