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For this week's reflection task: Please read the transaction of FunSun. Co and use the template provided to: Pass the journal entries for transactions given
For this week's reflection task: Please read the transaction of FunSun. Co and use the template provided to: Pass the journal entries for transactions given Prepare the various t-account Prepare the trial balance Explain the uses of journal and ledger accounts. Date Transaction April 1: Commenced business with $35,000 of common stock for cash $35,000 April 2 Purchased Office supply for $ 1,100 on account April 5 Billed customers $ 10,000 on the account. April 12 Purchased a delivery van for $ 7,000 on loan. April15 Paid rent for $ 5,000. April 16 Paid Salaries to employees $4,000 April 17 Cash sales for $ 2,000 April 20 Paid insurance for one-year policy $1,800. April 20 Paid the loan on van $1,000 April 21 Collected $ 9,000 for the bill on April 5. April 25 Return office supply purchased on April 2 $ 100 April 27 Purchased additional furniture by paying cash for $ 2,000. April 29 Cash withdrawal for personal use $ 1,000 Additional entries: (a) Depreciation for the month of April on van 5% (b) Accrued but unpaid employee salaries were $500 (c) Earned but unbilled fees at October 31 were $600 (d) One-twelfth of the insurance expired (e) Paid Dividend $,1000
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